BNP Paribas Financial Markets Raises Stake in Customers Bancorp, Inc. (NYSE:CUBI)

BNP Paribas Financial Markets boosted its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 117.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,425 shares of the bank’s stock after purchasing an additional 21,871 shares during the quarter. BNP Paribas Financial Markets owned about 0.13% of Customers Bancorp worth $1,878,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its position in shares of Customers Bancorp by 112.3% in the 3rd quarter. FMR LLC now owns 15,720 shares of the bank’s stock worth $730,000 after purchasing an additional 8,314 shares during the last quarter. Quantbot Technologies LP increased its stake in Customers Bancorp by 94.2% during the 3rd quarter. Quantbot Technologies LP now owns 63,036 shares of the bank’s stock valued at $2,928,000 after purchasing an additional 30,573 shares in the last quarter. Citigroup Inc. raised its holdings in Customers Bancorp by 16.4% in the third quarter. Citigroup Inc. now owns 107,596 shares of the bank’s stock worth $4,998,000 after buying an additional 15,161 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Customers Bancorp by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after buying an additional 12,000 shares in the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of Customers Bancorp by 74.2% during the third quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock valued at $1,177,000 after buying an additional 10,797 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Insider Activity

In other Customers Bancorp news, CEO Jay S. Sidhu sold 86,578 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the sale, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at $61,662,410.92. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the transaction, the insider now directly owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This trade represents a 7.02 % 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 valued at $5,425,815 in the last ninety days. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Stock Up 0.7 %

Shares of CUBI stock opened at $55.43 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a 12 month low of $42.31 and a 12 month high of $68.49. The stock has a market cap of $1.74 billion, a P/E ratio of 9.00 and a beta of 1.65. The company has a 50 day simple moving average of $50.29 and a two-hundred day simple moving average of $50.07.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same period in the prior year, the business posted $2.59 earnings per share. Customers Bancorp’s revenue for the quarter 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 year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CUBI. Keefe, Bruyette & Woods upped their price objective on Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a research report on Wednesday. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. B. Riley boosted their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Raymond James dropped their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Finally, Stephens lifted their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.22.

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.