UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 7,296 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Customers Bancorp, Inc. (NYSE:CUBI) by 11.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 58,616 shares of the bank’s stock after selling 7,296 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Customers Bancorp worth $2,723,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in Customers Bancorp by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock valued at $1,878,000 after buying an additional 21,871 shares during the period. FMR LLC increased its position in Customers Bancorp by 112.3% during the third quarter. FMR LLC now owns 15,720 shares of the bank’s stock valued at $730,000 after acquiring an additional 8,314 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Customers Bancorp by 94.2% in the third quarter. Quantbot Technologies LP now owns 63,036 shares of the bank’s stock valued at $2,928,000 after acquiring an additional 30,573 shares during the period. Citigroup Inc. lifted its holdings in shares of Customers Bancorp by 16.4% in the 3rd quarter. Citigroup Inc. now owns 107,596 shares of the bank’s stock worth $4,998,000 after acquiring an additional 15,161 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Customers Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after purchasing an additional 12,000 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Customers Bancorp

In related news, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the transaction, the director now directly owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the sale, the insider now 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,440 shares of company stock valued at $5,425,815. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $53.51 on Friday. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 8.69 and a beta of 1.65. 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 business has a fifty day moving average of $51.14 and a 200 day moving average of $50.35.

Customers Bancorp (NYSE:CUBI) last issued its quarterly 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). The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. Customers Bancorp’s quarterly revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 EPS. As a group, research analysts expect that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on CUBI shares. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Piper Sandler reduced their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. B. Riley boosted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Raymond James reduced 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 research note on Wednesday, October 2nd. Finally, Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.22.

Customers Bancorp Company 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.