Exchange Traded Concepts LLC Purchases New Shares in Customers Bancorp, Inc. (NYSE:CUBI)

Exchange Traded Concepts LLC acquired a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 19,977 shares of the bank's stock, valued at approximately $928,000. Exchange Traded Concepts LLC owned 0.06% of Customers Bancorp as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CUBI. Ridgewood Investments LLC acquired a new stake in Customers Bancorp in the second quarter valued at about $48,000. GAMMA Investing LLC boosted its stake in shares of Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock valued at $73,000 after purchasing an additional 282 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Customers Bancorp during the 2nd quarter valued at approximately $74,000. CWM LLC increased its position in Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank's stock worth $102,000 after purchasing an additional 274 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Customers Bancorp in the 2nd quarter valued at approximately $151,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Trading Down 2.7 %

CUBI stock traded down $1.31 during trading on Friday, hitting $46.65. The company had a trading volume of 185,544 shares, compared to its average volume of 359,520. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. Customers Bancorp, Inc. has a one year low of $31.16 and a one year high of $68.49. The business has a 50-day moving average of $47.62 and a 200-day moving average of $49.26. The stock has a market cap of $1.47 billion, a PE ratio of 6.54 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, topping analysts' consensus estimates of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The business had revenue of $198.69 million during the quarter, compared to the consensus estimate of $184.40 million. During the same quarter last year, the firm earned $1.65 earnings per share. Customers Bancorp's quarterly revenue was up 3.9% on a year-over-year basis. Research analysts predict that Customers Bancorp, Inc. will post 6.11 earnings per share for the current fiscal year.

Insider Transactions at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of Customers Bancorp stock in a transaction on Tuesday, August 13th. The stock was acquired at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the acquisition, the chief executive officer now owns 144,504 shares of the company's stock, valued at $6,579,267.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.92% of the company's stock.

Analyst Ratings Changes

CUBI has been the subject of several research analyst reports. B. Riley upped their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, July 29th. DA Davidson upped their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a "buy" rating in a report on Monday, July 29th. Raymond James cut their price target on Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, October 2nd. Jefferies Financial Group lowered their price objective on Customers Bancorp from $59.00 to $57.00 and set a "buy" rating for the company in a research note on Wednesday, July 3rd. Finally, Wedbush downgraded shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and cut their target price for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.00.

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.