Allspring Global Investments Holdings LLC Grows Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Allspring Global Investments Holdings LLC increased its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 46.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 285,368 shares of the bank’s stock after purchasing an additional 90,451 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.91% of Customers Bancorp worth $13,621,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Basswood Capital Management L.L.C. bought a new stake in shares of Customers Bancorp in the third quarter valued at approximately $26,000. R Squared Ltd bought a new stake in Customers Bancorp during the 4th quarter worth approximately $42,000. KBC Group NV increased its holdings in Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after acquiring an additional 677 shares during the period. Quest Partners LLC increased its holdings in Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after acquiring an additional 962 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in Customers Bancorp during the 3rd quarter worth approximately $84,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Glenn Hedde sold 15,815 shares of the 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 transaction, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay S. Sidhu sold 67,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now owns 965,723 shares in the company, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 119,988 shares of company stock valued at $6,842,438 over the last three months. 6.92% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on CUBI shares. DA Davidson increased their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. B. Riley increased their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Stephens reissued an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Keefe, Bruyette & Woods increased their price target on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Finally, Maxim Group increased their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Customers Bancorp Trading Up 1.0 %

Shares of CUBI opened at $56.94 on Tuesday. The company’s fifty day moving average is $51.95 and its 200 day moving average is $50.50. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The stock has a market capitalization of $1.79 billion, a PE ratio of 11.21 and a beta of 1.68. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. Sell-side analysts expect that Customers Bancorp, Inc. will post 6.33 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.