Multiple Reasons Pushed Customers Bancorp (CUBI) in Q4
Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund delivered a return of 11.02% net of fees (11.18% gross of fees), trailing the Russell 2000 Index’s 14.03% total return. Both security selection and allocation effects drove the underperformance of the strategy in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Aristotle Small Cap Equity Strategy featured stocks such as Customers Bancorp, Inc. (NYSE:CUBI) in the fourth quarter 2023 investor letter. Headquartered in West Reading, Pennsylvania, Customers Bancorp, Inc. (NYSE:CUBI) is a bank holding company for Customers Bank. On January 11, 2024, Customers Bancorp, Inc. (NYSE:CUBI) stock closed at $53.83 per share. One-month return of Customers Bancorp, Inc. (NYSE:CUBI) was -0.02%, and its shares gained 82.47% of their value over the last 52 weeks. Customers Bancorp, Inc. (NYSE:CUBI) has a market capitalization of $1.691 billion.
Aristotle Small Cap Equity Strategy stated the following regarding Customers Bancorp, Inc. (NYSE:CUBI) in its fourth quarter 2023 investor letter:
"Customers Bancorp, Inc. (NYSE:CUBI), a Pennsylvania-based regional bank, benefited from strong fundamental performance and improved sentiment following the company’s latest earnings release after the company reported net interest margin expansion alongside, solid credit, capital, and broader business trends. We maintain our investment as we believe management’s focus on accumulating capital, limiting balance growth, and remixing loans and deposits into higher value-add verticals should create additional shareholder value in periods to come."
A business owner discussing commercial business loans with a bank representative.
Customers Bancorp, Inc. (NYSE:CUBI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 16 hedge fund portfolios held Customers Bancorp, Inc. (NYSE:CUBI) at the end of third quarter which was 15 in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.
Suggested Articles:
Disclosure: None. This article is originally published at Insider Monkey.
