Raymond James & Associates Acquires 20,892 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Raymond James & Associates lifted its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 223.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,248 shares of the bank’s stock after acquiring an additional 20,892 shares during the period. Raymond James & Associates owned approximately 0.10% of Customers Bancorp worth $1,743,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CUBI. BluePath Capital Management LLC acquired a new stake in shares of Customers Bancorp in the 3rd quarter valued at about $31,000. Gyon Technologies Capital Management LP acquired a new stake in shares of Customers Bancorp in the 4th quarter valued at about $38,000. Tower Research Capital LLC TRC grew its stake in shares of Customers Bancorp by 129.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after buying an additional 1,253 shares during the period. Belpointe Asset Management LLC grew its stake in shares of Customers Bancorp by 722.5% in the 1st quarter. Belpointe Asset Management LLC now owns 2,673 shares of the bank’s stock valued at $50,000 after buying an additional 2,348 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new stake in shares of Customers Bancorp in the 2nd quarter valued at about $56,000. 89.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CUBI. Wedbush reduced their target price on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. Raymond James lifted their price target on Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. B. Riley boosted their price objective on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Jefferies Financial Group boosted their price objective on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Customers Bancorp presently has an average rating of “Moderate Buy” and an average target price of $61.86.

Insider Activity at Customers Bancorp

In related news, insider Glenn Hedde sold 666 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the transaction, the insider now owns 69,428 shares in the company, valued at $3,762,997.60. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the sale, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Glenn Hedde sold 666 shares of the stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the sale, the insider now owns 69,428 shares in the company, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by company insiders.

Customers Bancorp Stock Performance

CUBI stock opened at $46.45 on Thursday. Customers Bancorp, Inc. has a 12-month low of $15.80 and a 12-month high of $60.09. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average of $51.91 and a 200-day moving average of $48.33. The firm has a market cap of $1.46 billion, a PE ratio of 6.35 and a beta of 1.67.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The business had revenue of $191.18 million for the quarter, compared to the consensus estimate of $187.87 million. As a group, sell-side analysts expect that Customers Bancorp, Inc. will post 6.85 earnings per share for the current year.

Customers Bancorp Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.