Louisiana State Employees Retirement System Reduces Position in Customers Bancorp, Inc. (NYSE:CUBI)

Louisiana State Employees Retirement System cut its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,100 shares of the bank’s stock after selling 200 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Customers Bancorp were worth $686,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp increased its position in shares of Customers Bancorp by 10.5% during the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after buying an additional 169,982 shares during the period. Geode Capital Management LLC increased its position in shares of Customers Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after buying an additional 17,941 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Customers Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after buying an additional 12,000 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after buying an additional 225,785 shares during the period. Finally, Citigroup Inc. increased its position in shares of Customers Bancorp by 16.4% during the third quarter. Citigroup Inc. now owns 107,596 shares of the bank’s stock valued at $4,998,000 after buying an additional 15,161 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Glenn Hedde sold 15,815 shares of the firm’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jay S. Sidhu sold 67,000 shares of the firm’s stock in a transaction 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 directly owns 965,723 shares of the company’s stock, valued at $54,872,380.86. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Piper Sandler decreased their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Keefe, Bruyette & Woods upped their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Maxim Group upped their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, DA Davidson upped their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Customers Bancorp Stock Down 0.0 %

Shares of NYSE CUBI opened at $56.96 on Wednesday. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $52.02 and its two-hundred day simple moving average is $50.49. The stock has a market capitalization of $1.79 billion, a P/E ratio of 11.21 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating 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%. As a group, analysts expect that Customers Bancorp, Inc. will post 6.33 EPS 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.