Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 59.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,241 shares of the bank’s stock after selling 13,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Customers Bancorp were worth $450,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of CUBI. Sanctuary Advisors LLC increased its stake in Customers Bancorp by 3.2% during the fourth quarter. Sanctuary Advisors LLC now owns 9,714 shares of the bank’s stock worth $473,000 after purchasing an additional 302 shares during the period. Principal Financial Group Inc. boosted its position in Customers Bancorp by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 141,399 shares of the bank’s stock valued at $6,883,000 after buying an additional 2,418 shares during the period. Rhumbline Advisers grew its stake in shares of Customers Bancorp by 4.6% in the fourth quarter. Rhumbline Advisers now owns 91,448 shares of the bank’s stock worth $4,452,000 after acquiring an additional 4,029 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock worth $13,621,000 after acquiring an additional 90,451 shares during the period. Finally, Sippican Capital Advisors raised its stake in shares of Customers Bancorp by 34.6% in the fourth quarter. Sippican Capital Advisors now owns 35,769 shares of the bank’s stock valued at $1,741,000 after acquiring an additional 9,190 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CUBI shares. Keefe, Bruyette & Woods increased their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. DA Davidson boosted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Maxim Group lifted their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Six research analysts have rated the stock with a hold rating, four have given 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 target price of $64.00.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the transaction, the chief executive officer now owns 965,723 shares in the company, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Glenn Hedde sold 15,815 shares of the company’s 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. This trade represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,988 shares of company stock worth $6,627,318. Company insiders own 6.92% of the company’s stock.

Customers Bancorp Stock Down 3.1 %

Shares of NYSE:CUBI opened at $50.99 on Wednesday. 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 stock has a market cap of $1.60 billion, a P/E ratio of 10.04 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 firm has a fifty day moving average price of $52.60 and a 200 day moving average price of $50.81.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping 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%. Sell-side analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

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.