Proficio Capital Partners LLC Purchases New Position in Customers Bancorp, Inc. (NYSE:CUBI)

Proficio Capital Partners LLC bought a new position in Customers Bancorp, Inc. (NYSE:CUBI) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 26,239 shares of the bank’s stock, valued at approximately $1,277,000. Proficio Capital Partners LLC owned about 0.08% of Customers Bancorp at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of CUBI. Olympiad Research LP bought a new position in shares of Customers Bancorp in the third quarter worth about $332,000. Los Angeles Capital Management LLC acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $294,000. Wolverine Asset Management LLC acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $3,470,000. GSA Capital Partners LLP grew its position in shares of Customers Bancorp by 10.5% during the 3rd quarter. GSA Capital Partners LLP now owns 30,001 shares of the bank’s stock worth $1,394,000 after buying an additional 2,857 shares during the period. Finally, Empowered Funds LLC grew its position in shares of Customers Bancorp by 5.2% during the 3rd quarter. Empowered Funds LLC now owns 21,640 shares of the bank’s stock worth $1,005,000 after buying an additional 1,072 shares during the period. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $50.35 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The company’s fifty day simple moving average is $52.72 and its 200-day simple moving average is $50.83. Customers Bancorp, Inc. has a 12 month low of $42.31 and a 12 month high of $68.49. The firm has a market cap of $1.58 billion, a PE ratio of 9.91 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) 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%. Equities research analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Jay S. Sidhu sold 33,173 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $57.25, for a total value of $1,899,154.25. Following the transaction, the chief executive officer now directly owns 1,032,723 shares in the company, valued at $59,123,391.75. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CUBI shares. DA Davidson lifted their price target 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. Stephens restated an “equal weight” rating and set a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th. Maxim Group boosted their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.