State of Alaska Department of Revenue Lowers Position in Customers Bancorp, Inc. (NYSE:CUBI)

State of Alaska Department of Revenue decreased its position in Customers Bancorp, Inc. (NYSE:CUBI) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,570 shares of the bank’s stock after selling 252 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of Customers Bancorp worth $806,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sippican Capital Advisors boosted its position in shares of Customers Bancorp by 34.6% in the 4th quarter. Sippican Capital Advisors now owns 35,769 shares of the bank’s stock worth $1,741,000 after purchasing an additional 9,190 shares in the last quarter. R Squared Ltd purchased a new position in Customers Bancorp during the fourth quarter valued at $42,000. KBC Group NV boosted its holdings in Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after acquiring an additional 677 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Customers Bancorp by 5.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 21,085 shares of the bank’s stock worth $1,026,000 after acquiring an additional 1,108 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Customers Bancorp by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock valued at $272,000 after acquiring an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In related news, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total transaction of $921,223.75. Following the transaction, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. The trade was a 46.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,988 shares of company stock valued at $6,842,438. 6.92% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods upped their price target on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. DA Davidson upped their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Stephens reissued an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, Maxim Group increased their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Customers Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Customers Bancorp Price Performance

NYSE CUBI opened at $56.94 on Friday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 11.21 and a beta of 1.68. Customers Bancorp, Inc. has a 1-year low of $42.31 and a 1-year high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The business’s fifty day moving average price is $51.89 and its 200-day moving average price is $50.71.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. On average, equities analysts predict that Customers Bancorp, Inc. will post 6.33 earnings per share for the current year.

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.