Mutual of America Capital Management LLC Cuts Position in Customers Bancorp, Inc. (NYSE:CUBI)

Mutual of America Capital Management LLC lessened its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 5.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,434 shares of the bank’s stock after selling 249 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Customers Bancorp were worth $206,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Ridgewood Investments LLC purchased a new position in shares of Customers Bancorp in the 2nd quarter worth approximately $48,000. GAMMA Investing LLC boosted its holdings 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 worth $73,000 after purchasing an additional 282 shares during the period. Innealta Capital LLC purchased a new position in shares of Customers Bancorp in the 2nd quarter worth approximately $74,000. CWM LLC boosted its holdings in Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after acquiring an additional 274 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Customers Bancorp during the 2nd quarter valued at $151,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Down 0.6 %

Shares of CUBI stock opened at $56.52 on Friday. Customers Bancorp, Inc. has a 1-year low of $42.31 and a 1-year high of $68.49. The stock’s fifty day moving average price is $49.13 and its 200 day moving average price is $49.77. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market cap of $1.77 billion, a price-to-earnings ratio of 9.23 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter last year, the firm earned $2.59 earnings per share. The firm’s quarterly revenue was down 23.2% compared to the same quarter last year. On average, research analysts expect that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on CUBI shares. B. Riley boosted their price objective on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a report on Friday, August 9th. Keefe, Bruyette & Woods cut Customers Bancorp from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $57.00 to $52.00 in a report on Monday, November 4th. Raymond James dropped their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. Finally, StockNews.com cut Customers Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp presently has a consensus rating of “Hold” and a consensus target price of $61.11.

Insider Buying and Selling

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the sale, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay S. Sidhu sold 86,578 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the sale, the chief executive officer now owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,440 shares of company stock worth $5,425,815 in the last ninety days. 6.92% of the stock is owned by insiders.

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.