Illinois Municipal Retirement Fund Makes $611,000 Investment in Customers Bancorp, Inc.

The Illinois Municipal Retirement Fund has recently acquired new shares in Customers Bancorp, Inc., a financial institution traded on the New York Stock Exchange under the ticker CUBI. During the third quarter, the fund invested approximately $611,000 to purchase 17,726 shares, representing about 0.06% of the company's total shares by the quarter's end.

Institutional Investors and Fund Movements

The investment moves from various hedge funds and institutional investors into Customers Bancorp stock have shown significant changes. Fifth Third Bancorp increased its ownership by 81% in the bank's shares, now valued at $29,000. Parallel Advisors LLC saw an increase of 8,341.7% in its stake. BluePath Capital Management LLC and Gyon Technologies Capital Management LP also entered new positions with investments of $31,000 and $38,000 respectively. Meanwhile, Tower Research Capital LLC TRC boosted its stake by 129.2%, now owning shares worth $41,000. Overall, 82.12% of Customers Bancorp's stock is held by institutional investors.

Analyst Ratings and Price Targets

Customers Bancorp received various price target adjustments and ratings from financial analysts. Raymond James raised its price target to $72 with a 'strong-buy' rating. Piper Sandler and Jefferies Financial Group provided a 'neutral' and a lowered price target, respectively. Additionally, B. Riley increased their target to $77 with a 'buy' rating. MarketBeat data suggests an overall 'Moderate Buy' consensus for CUBI, with an average price target of $57.00.

Stock Performance and Insider Transactions

On the performance front, CUBI stock opened at $52.03 on a recent Friday with a market capitalization of $1.63 billion. The company's ratios and moving averages depict a stable financial position, while its equity remains volatile with a beta of 1.69. Insider transactions have also been active, with CEO Jay S. Sidhu and CAO Jessie John Deano Velasquez selling shares, yet still maintaining significant holdings within the company.

About Customers Bancorp, Inc.

Customers Bancorp, Inc. serves as the holding company for Customers Bank, offering a range of financial products and services to consumers and businesses, such as deposit banking products including various checking and savings accounts.

Investment, Illinois, CustomersBancorp