Charles Schwab Investment Management Inc. Trims Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Charles Schwab Investment Management Inc. lessened its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 4.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 489,287 shares of the bank’s stock after selling 20,182 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.56% of Customers Bancorp worth $23,818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. acquired a new stake in Customers Bancorp during the third quarter valued at $26,000. R Squared Ltd acquired a new stake in Customers Bancorp during the fourth quarter valued at $42,000. KBC Group NV grew its position in Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after buying an additional 677 shares during the period. Quest Partners LLC grew its position in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares during the period. Finally, Smartleaf Asset Management LLC grew its position in shares of Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after purchasing an additional 1,255 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBI has been the topic of several research analyst reports. DA Davidson lifted their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Stephens reiterated an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. 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 lifted their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, Maxim Group lifted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Insiders Place Their Bets

In other news, insider Glenn Hedde sold 15,815 shares of the business’s stock in a transaction that occurred 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 sale, the insider now directly owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock valued at $6,627,318 over the last ninety days. Company insiders own 6.92% of the company’s stock.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $50.56 on Wednesday. The company’s 50-day moving average price is $52.92 and its 200-day moving average price is $50.83. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.59 billion, a P/E ratio of 9.95 and a beta of 1.74. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49.

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