Trexquant Investment LP Has $996,000 Position in Customers Bancorp, Inc. (NYSE:CUBI)

Posted by on Mar 14th, 2023

Trexquant Investment LP lessened its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) by 6.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,779 shares of the bank’s stock after selling 2,266 shares during the period. Trexquant Investment LP owned 0.10% of Customers Bancorp worth $996,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CUBI. Wipfli Financial Advisors LLC bought a new position in shares of Customers Bancorp in the third quarter valued at approximately $82,000. Point72 Hong Kong Ltd raised its position in shares of Customers Bancorp by 25.2% in the third quarter. Point72 Hong Kong Ltd now owns 3,021 shares of the bank’s stock valued at $89,000 after purchasing an additional 609 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Customers Bancorp by 16.8% in the second quarter. Mutual of America Capital Management LLC now owns 5,096 shares of the bank’s stock valued at $173,000 after purchasing an additional 732 shares during the period. Captrust Financial Advisors raised its position in shares of Customers Bancorp by 38.9% in the first quarter. Captrust Financial Advisors now owns 3,761 shares of the bank’s stock valued at $196,000 after purchasing an additional 1,054 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of Customers Bancorp by 471.5% in the third quarter. Tower Research Capital LLC TRC now owns 6,750 shares of the bank’s stock valued at $199,000 after purchasing an additional 5,569 shares during the period. Institutional investors own 84.33% of the company’s stock.

Customers Bancorp Stock Down 23.8 %

CUBI opened at $17.42 on Tuesday. Customers Bancorp, Inc. has a fifty-two week low of $6.87 and a fifty-two week high of $59.97. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.88 and a quick ratio of 0.86. The firm’s fifty day moving average price is $29.85 and its two-hundred day moving average price is $30.94. The company has a market capitalization of $550.51 million, a P/E ratio of 2.69 and a beta of 1.56.

Customers Bancorp (NYSE:CUBI – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The bank reported $1.19 earnings per share for the quarter, missing analysts’ consensus estimates of $1.66 by ($0.47). Customers Bancorp had a return on equity of 21.40% and a net margin of 24.85%. The business had revenue of $142.48 million for the quarter, compared to analyst estimates of $169.85 million. On average, analysts anticipate that Customers Bancorp, Inc. will post 5.35 EPS for the current year.

Insider Activity

In other news, CEO Jay S. Sidhu bought 45,450 shares of Customers Bancorp stock in a transaction dated Monday, March 13th. The shares were bought at an average price of $11.00 per share, for a total transaction of $499,950.00. Following the purchase, the chief executive officer now owns 1,167,626 shares of the company’s stock, valued at $12,843,886. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.75% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on CUBI. DA Davidson reaffirmed a “buy” rating on shares of Customers Bancorp in a research report on Wednesday, December 21st. Stephens set a $45.00 target price on shares of Customers Bancorp in a research report on Wednesday, November 23rd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.50.

Customers Bancorp Profile

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Customers Bancorp, Inc operates as a bank holding company, which engages in the provision of banking services through its subsidiary, Customers Bank. It operates through the Customers Bank Business Banking and BankMobile segments. The Customers Bank Business Banking segment includes commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington, DC, and Illinois through a single-point-of-contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies.

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Institutional Ownership by Quarter for Customers Bancorp (NYSE:CUBI)

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