Allspring Global Investments Holdings LLC Boosts Stock Position in Customers Bancorp, Inc (NYSE:CUBI)

Allspring Global Investments Holdings LLC raised its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 11.3% during the first quarter, Holdings Channel reports. The institutional investor owned 317,584 shares of the bank’s stock after buying an additional 32,216 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Customers Bancorp were worth $16,127,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its holdings in shares of Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after acquiring an additional 189 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Customers Bancorp in the fourth quarter valued at approximately $46,000. Smartleaf Asset Management LLC increased its stake in Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after purchasing an additional 1,255 shares during the last quarter. GAMMA Investing LLC raised its holdings in Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank’s stock worth $95,000 after purchasing an additional 403 shares in the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock worth $151,000 after purchasing an additional 254 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. B. Riley increased their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods dropped their price objective on Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. Finally, Wall Street Zen downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $64.00.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $64.71 on Thursday. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $68.49. The stock’s 50-day moving average price is $52.78 and its 200 day moving average price is $51.34. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.04 billion, a PE ratio of 16.30 and a beta of 1.55.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.26. Customers Bancorp had a net margin of 10.51% and a return on equity of 11.64%. The business had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. During the same quarter in the previous year, the firm earned $1.68 earnings per share. As a group, equities research analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current year.

About Customers Bancorp

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.