Customers Bancorp, Inc. (NYSE:CUBI) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 4.6% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 91,448 shares of the bank’s stock after buying an additional 4,029 shares during the quarter. Rhumbline Advisers owned approximately 0.29% of Customers Bancorp worth $4,452,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Intech Investment Management LLC raised its position in shares of Customers Bancorp by 74.2% in the 3rd quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock worth $1,177,000 after buying an additional 10,797 shares during the period. BNP Paribas Financial Markets grew its stake in Customers Bancorp by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock worth $1,878,000 after purchasing an additional 21,871 shares in the last quarter. Walleye Capital LLC grew its stake in Customers Bancorp by 536.3% in the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock worth $1,786,000 after purchasing an additional 32,407 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Customers Bancorp by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after acquiring an additional 12,000 shares during the period. Finally, Barclays PLC boosted its stake in Customers Bancorp by 46.9% in the third quarter. Barclays PLC now owns 89,879 shares of the bank’s stock valued at $4,175,000 after acquiring an additional 28,683 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the sale, the chief executive officer now directly owns 965,723 shares of the company’s stock, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the sale, the insider now directly owns 55,211 shares in the company, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,988 shares of company stock valued at $6,627,318 over the last quarter. Corporate insiders own 6.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. B. Riley upped their price target on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. DA Davidson boosted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Stephens reiterated an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Stock Up 1.7 %

Shares of CUBI opened at $54.02 on Friday. The company has a 50-day simple moving average of $52.38 and a 200-day simple moving average of $50.63. The firm has a market capitalization of $1.69 billion, a P/E ratio of 10.63 and a beta of 1.68. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. On average, equities research analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

About Customers Bancorp

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.