Hancock Whitney Corp Cuts Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Hancock Whitney Corp lessened its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 13.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,101 shares of the bank’s stock after selling 824 shares during the quarter. Hancock Whitney Corp’s holdings in Customers Bancorp were worth $245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CUBI. Louisiana State Employees Retirement System boosted its holdings in shares of Customers Bancorp by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock valued at $686,000 after purchasing an additional 300 shares during the last quarter. SummerHaven Investment Management LLC boosted its stake in Customers Bancorp by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after buying an additional 341 shares during the last quarter. Texas Permanent School Fund Corp grew its holdings in Customers Bancorp by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after buying an additional 353 shares in the last quarter. ProShare Advisors LLC increased its stake in Customers Bancorp by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock worth $306,000 after acquiring an additional 398 shares during the last quarter. Finally, Inspire Investing LLC raised its holdings in shares of Customers Bancorp by 8.3% during the 2nd quarter. Inspire Investing LLC now owns 7,303 shares of the bank’s stock worth $350,000 after acquiring an additional 557 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Samvir S. Sidhu acquired 2,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $45.53 per share, with a total value of $113,825.00. Following the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.92% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CUBI. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Friday, August 9th. Wedbush boosted their target price on shares of Customers Bancorp from $56.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. DA Davidson increased their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. B. Riley boosted their price objective on Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group lowered their price objective on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued 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 $65.50.

Customers Bancorp Trading Down 1.4 %

CUBI opened at $47.03 on Tuesday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The stock’s 50 day moving average price is $52.83 and its 200-day moving average price is $50.02. Customers Bancorp, Inc. has a one year low of $31.16 and a one year high of $68.49. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 6.57 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, beating the consensus estimate of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The company had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. During the same quarter in the prior year, the company posted $1.65 EPS. Customers Bancorp’s quarterly revenue was up 3.9% on a year-over-year basis. On average, equities analysts forecast that Customers Bancorp, Inc. will post 6.34 EPS 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.