Smartleaf Asset Management LLC Has $80,000 Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Smartleaf Asset Management LLC boosted its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 323.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,643 shares of the bank’s stock after acquiring an additional 1,255 shares during the period. Smartleaf Asset Management LLC’s holdings in Customers Bancorp were worth $80,000 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. State Street Corp lifted its stake in shares of Customers Bancorp by 10.5% in the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after purchasing an additional 169,982 shares during the period. Geode Capital Management LLC increased its holdings in Customers Bancorp by 2.7% in the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock worth $31,924,000 after purchasing an additional 17,941 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 buying an additional 12,000 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Customers Bancorp by 46.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock worth $13,621,000 after buying an additional 90,451 shares in the last quarter. Finally, South Dakota Investment Council boosted its holdings in shares of Customers Bancorp by 3.2% during the 4th quarter. South Dakota Investment Council now owns 205,597 shares of the bank’s stock worth $10,008,000 after buying an additional 6,298 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CUBI. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Keefe, Bruyette & Woods increased their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock 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 research report on Friday, January 24th. DA Davidson increased their price target on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Maxim Group raised their price objective 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 research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $64.00.

Customers Bancorp Stock Down 0.1 %

Shares of NYSE:CUBI opened at $50.35 on Monday. The business’s 50 day moving average is $52.76 and its 200 day moving average is $50.88. 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 $1.58 billion, a price-to-earnings ratio of 9.91 and a beta of 1.74. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating the consensus estimate 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, sell-side analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction on Tuesday, February 4th. The stock was 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 in the company, valued at approximately $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The sale 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 shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the transaction, the insider now owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 115,988 shares of company stock worth $6,627,318. 6.92% of the stock is owned by insiders.

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.