Voya Investment Management LLC Buys 5,835 Shares of Customers Bancorp, Inc $CUBI

Voya Investment Management LLC raised its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 30.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,741 shares of the bank’s stock after acquiring an additional 5,835 shares during the quarter. Voya Investment Management LLC’s holdings in Customers Bancorp were worth $1,242,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of CUBI. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Customers Bancorp by 4.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,839 shares of the bank’s stock valued at $820,000 after acquiring an additional 645 shares in the last quarter. Millennium Management LLC boosted its position in shares of Customers Bancorp by 104.1% in the 4th quarter. Millennium Management LLC now owns 160,300 shares of the bank’s stock worth $7,803,000 after purchasing an additional 81,755 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Customers Bancorp by 44.3% in the 4th quarter. ProShare Advisors LLC now owns 8,915 shares of the bank’s stock worth $434,000 after purchasing an additional 2,739 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Customers Bancorp by 51.7% in the 4th quarter. Two Sigma Advisers LP now owns 13,200 shares of the bank’s stock worth $643,000 after purchasing an additional 4,500 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Customers Bancorp by 29.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,798 shares of the bank’s stock worth $3,690,000 after purchasing an additional 17,182 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CUBI shares. DA Davidson raised their price objective on Customers Bancorp from $69.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, July 28th. B. Riley raised their price objective on Customers Bancorp from $85.00 to $86.00 and gave the stock a “buy” rating in a research report on Tuesday. Wall Street Zen raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Stephens raised their price objective on Customers Bancorp from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $71.00 to $76.00 and gave the stock a “market perform” rating in a research report on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $72.43.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $66.33 on Wednesday. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 16.42 and a beta of 1.62. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The business has a fifty day moving average of $66.23 and a 200 day moving average of $56.98. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $72.51.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The business had revenue of $206.31 million during the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.The company’s revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business posted $1.49 EPS. As a group, research analysts expect that Customers Bancorp, Inc will post 6.45 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.