Thrivent Financial for Lutherans Has $3.43 Million Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Thrivent Financial for Lutherans grew its position in Customers Bancorp, Inc. (NYSE:CUBI) by 26.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 71,473 shares of the bank’s stock after purchasing an additional 15,011 shares during the period. Thrivent Financial for Lutherans’ holdings in Customers Bancorp were worth $3,429,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Wedge Capital Management L L P NC bought a new position in Customers Bancorp during the 2nd quarter worth $2,508,000. Hillsdale Investment Management Inc. bought a new position in Customers Bancorp during the first quarter worth about $4,266,000. Intech Investment Management LLC acquired a new stake in Customers Bancorp in the 2nd quarter worth about $698,000. SG Americas Securities LLC boosted its holdings in Customers Bancorp by 208.5% in the 1st quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock valued at $1,148,000 after purchasing an additional 14,621 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Customers Bancorp during the 1st quarter worth approximately $1,333,000. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In other news, CEO Samvir S. Sidhu bought 2,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the transaction, the chief executive officer now owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 6.92% of the stock is currently owned by corporate insiders.

Customers Bancorp Trading Up 1.3 %

CUBI opened at $45.38 on Friday. The company has a market cap of $1.43 billion, a P/E ratio of 6.34 and a beta of 1.62. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. The company’s 50 day moving average is $51.46 and its 200-day moving average is $49.80. Customers Bancorp, Inc. has a 1-year low of $31.16 and a 1-year high of $68.49.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The company’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the business posted $1.65 earnings per share. Equities research analysts predict that Customers Bancorp, Inc. will post 6.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CUBI shares. Jefferies Financial Group dropped their price target on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a research report on Friday, August 9th. DA Davidson increased 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. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Finally, B. Riley increased their price objective on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $62.25.

Customers Bancorp Company 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.