Victory Capital Management Inc. Has $1.11 Million Position in Customers Bancorp, Inc. (NYSE:CUBI)

Victory Capital Management Inc. cut its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 45.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,806 shares of the bank’s stock after selling 19,848 shares during the period. Victory Capital Management Inc. owned 0.08% of Customers Bancorp worth $1,106,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Ridgewood Investments LLC bought a new position in Customers Bancorp in the 2nd quarter worth approximately $48,000. GAMMA Investing LLC increased its position in 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 period. Innealta Capital LLC acquired a new position in Customers Bancorp during the 2nd quarter valued at $74,000. CWM LLC boosted its holdings in Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in Customers Bancorp in the 2nd quarter worth $151,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CUBI. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $57.00 to $52.00 in a research report on Monday, November 4th. StockNews.com lowered Customers Bancorp from a “hold” rating to a “sell” rating in a report on Saturday. B. Riley upped their target price on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Finally, Raymond James decreased their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $61.11.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the transaction, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the sale, the insider now directly owns 66,256 shares in the company, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,440 shares of company stock worth $5,425,815. 6.92% of the stock is currently owned by insiders.

Customers Bancorp Trading Down 1.9 %

Shares of Customers Bancorp stock opened at $56.58 on Wednesday. The stock has a market capitalization of $1.77 billion, a P/E ratio of 9.24 and a beta of 1.61. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The company has a 50-day simple moving average of $48.65 and a 200 day simple moving average of $49.61.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm 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 business’s quarterly revenue was down 23.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.59 EPS. Research analysts expect that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Customers Bancorp Company 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.