US Bancorp DE Has $42,000 Position in Customers Bancorp, Inc. (NYSE:CUBI)

US Bancorp DE lowered its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 87.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 907 shares of the bank’s stock after selling 6,303 shares during the quarter. US Bancorp DE’s holdings in Customers Bancorp were worth $42,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in shares of Customers Bancorp during the second quarter worth $48,000. Innealta Capital LLC bought a new stake in shares of Customers Bancorp during the second quarter worth $74,000. GAMMA Investing LLC raised its position in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares during the last quarter. CWM LLC raised its position in shares of Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Customers Bancorp during the second quarter worth $151,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Down 0.4 %

NYSE CUBI opened at $54.87 on Monday. The firm has a market cap of $1.72 billion, a P/E ratio of 8.91 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The stock’s 50-day moving average is $47.84 and its 200-day moving average is $49.31. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The company’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 EPS. Sell-side analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Raymond James dropped their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $57.00 to $52.00 in a report on Monday, November 4th. Piper Sandler dropped their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday. Finally, Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $61.11.

Insider Transactions at Customers Bancorp

In related news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now directly owns 66,256 shares in the company, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu sold 860 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the transaction, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at approximately $65,114,360.74. The trade was a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,440 shares of company stock valued at $5,210,695 over the last 90 days. 6.92% of the stock is owned by company insiders.

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.