Emerald Advisers LLC Has $23.82 Million Stake in Customers Bancorp, Inc $CUBI

Emerald Advisers LLC grew its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 3.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 343,209 shares of the bank’s stock after purchasing an additional 12,899 shares during the period. Emerald Advisers LLC owned about 1.02% of Customers Bancorp worth $23,822,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CUBI. Arax Advisory Partners lifted its holdings in shares of Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after purchasing an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Customers Bancorp during the third quarter valued at approximately $29,000. Transamerica Financial Advisors LLC boosted its position in shares of Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after buying an additional 404 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Customers Bancorp during the first quarter worth $37,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Customers Bancorp during the fourth quarter worth $105,000. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $76.11 on Tuesday. The business’s fifty day simple moving average is $76.07 and its 200 day simple moving average is $74.37. The firm has a market capitalization of $2.57 billion, a P/E ratio of 9.66 and a beta of 1.48. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $82.56. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The business had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $223.51 million. During the same quarter in the previous year, the firm earned $1.54 earnings per share. The business’s revenue was up 57.9% on a year-over-year basis. As a group, analysts anticipate that Customers Bancorp, Inc will post 8.35 EPS for the current year.

Insider Buying and Selling

In other news, EVP Philip Watkins sold 3,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the completion of the transaction, the executive vice president directly owned 43,993 shares of the company’s stock, valued at $3,328,950.31. This represents a 6.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the sale, the chairman owned 767,557 shares of the company’s stock, valued at approximately $58,510,870.11. The trade was a 7.29% decrease in their position. The disclosure for this sale is available in the SEC filing. 10.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

CUBI has been the topic of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Morgan Stanley upped their target price on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. JPMorgan Chase & Co. increased their target price on shares of Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Stephens raised shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target on the stock in a research report on Monday, March 16th. Finally, DA Davidson boosted their price target on shares of Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $89.62.

Customers Bancorp Company Profile

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.