American Century Companies Inc. Raises Holdings in Customers Bancorp, Inc $CUBI

American Century Companies Inc. lifted its position in Customers Bancorp, Inc (NYSE:CUBI) by 7.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 945,825 shares of the bank’s stock after purchasing an additional 69,200 shares during the quarter. American Century Companies Inc.’s holdings in Customers Bancorp were worth $61,829,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CUBI. Jones Financial Companies Lllp bought a new position in shares of Customers Bancorp during the 1st quarter valued at approximately $37,000. Farther Finance Advisors LLC raised its position in Customers Bancorp by 63.1% during the third quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after purchasing an additional 260 shares during the period. Aster Capital Management DIFC Ltd raised its position in Customers Bancorp by 451.2% during the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after purchasing an additional 767 shares during the period. CX Institutional bought a new stake in shares of Customers Bancorp in the 3rd quarter valued at approximately $67,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Customers Bancorp by 17.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after purchasing an additional 256 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Customers Bancorp Stock Up 0.8%

Shares of NYSE CUBI opened at $70.23 on Thursday. The stock has a 50 day moving average price of $75.10 and a 200 day moving average price of $70.59. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 11.33 and a beta of 1.66. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $82.56. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The business had revenue of $236.90 million during the quarter, compared to analysts’ expectations of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same period in the prior year, the business earned $1.36 EPS. Sell-side analysts expect that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Customers Bancorp announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to buy up to 4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. B. Riley Financial restated a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Wall Street Zen lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. DA Davidson increased their target price on shares of Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Morgan Stanley raised their target price on shares of Customers Bancorp from $90.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Zacks Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.