Customers Bancorp, Inc $CUBI Shares Acquired by Royal Bank of Canada

Royal Bank of Canada increased its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 509.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,114 shares of the bank’s stock after buying an additional 8,454 shares during the period. Royal Bank of Canada’s holdings in Customers Bancorp were worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in CUBI. Vanguard Group Inc. grew its stake in shares of Customers Bancorp by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock valued at $162,424,000 after acquiring an additional 66,031 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Customers Bancorp by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock worth $134,859,000 after acquiring an additional 65,954 shares during the last quarter. State Street Corp increased its position in shares of Customers Bancorp by 1.8% during the fourth quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock worth $133,998,000 after acquiring an additional 32,449 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Customers Bancorp by 3,074.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after acquiring an additional 844,141 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Customers Bancorp by 213.0% in the first quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock worth $54,056,000 after acquiring an additional 529,987 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CUBI. Piper Sandler raised their price objective on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Fundamental Research set a $94.00 price objective on Customers Bancorp in a report on Wednesday, July 1st. JPMorgan Chase & Co. upped their target price on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, Morgan Stanley raised their price target on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and an average target price of $90.69.

Customers Bancorp Stock Up 0.1%

NYSE:CUBI opened at $79.84 on Monday. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 9.74 and a beta of 1.49. Customers Bancorp, Inc has a one year low of $59.34 and a one year high of $84.38. The stock has a 50-day simple moving average of $78.79 and a 200 day simple moving average of $74.93. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The firm had revenue of $227.28 million during the quarter, compared to analyst estimates of $229.24 million. During the same period in the previous year, the company earned $1.80 earnings per share. Customers Bancorp’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Customers Bancorp, Inc will post 8.43 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In other news, Chairman Jay S. Sidhu sold 68,821 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the sale, the chairman directly owned 667,757 shares in the company, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders sold 160,315 shares of company stock valued at $12,578,896. 10.45% of the stock is currently owned by company insiders.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.