Texas Permanent School Fund Cuts Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Texas Permanent School Fund lessened its stake in Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) by 6.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 20,548 shares of the bank’s stock after selling 1,392 shares during the quarter. Texas Permanent School Fund owned 0.06% of Customers Bancorp worth $582,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. purchased a new position in Customers Bancorp in the fourth quarter valued at $370,000. LPL Financial LLC purchased a new position in shares of Customers Bancorp in the 4th quarter valued at about $206,000. Emerald Advisers LLC raised its position in shares of Customers Bancorp by 5.6% during the 4th quarter. Emerald Advisers LLC now owns 566,076 shares of the bank’s stock worth $16,043,000 after acquiring an additional 29,911 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its position in shares of Customers Bancorp by 21.2% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 297,705 shares of the bank’s stock worth $8,437,000 after acquiring an additional 52,070 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Customers Bancorp during the fourth quarter worth approximately $741,000. 84.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Customers Bancorp

In other news, Director Daniel K. Rothermel acquired 5,000 shares of Customers Bancorp stock in a transaction that occurred on Monday, March 13th. The stock was purchased at an average price of $10.71 per share, for a total transaction of $53,550.00. Following the completion of the transaction, the director now directly owns 102,962 shares in the company, valued at $1,102,723.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Customers Bancorp news, Director Daniel K. Rothermel acquired 5,000 shares of the business’s stock in a transaction on Monday, March 13th. The stock was purchased at an average price of $10.71 per share, for a total transaction of $53,550.00. Following the completion of the transaction, the director now owns 102,962 shares of the company’s stock, valued at approximately $1,102,723.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay S. Sidhu bought 45,450 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were bought at an average price of $11.00 per share, for a total transaction of $499,950.00. Following the completion of the transaction, the chief executive officer now directly owns 1,167,626 shares in the company, valued at approximately $12,843,886. The disclosure for this purchase can be found here. Company insiders own 6.75% of the company’s stock.

Customers Bancorp Trading Up 12.6 %

Shares of CUBI stock opened at $22.06 on Thursday. Customers Bancorp, Inc. has a twelve month low of $6.87 and a twelve month high of $41.85. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 1.74. The business’s 50 day moving average is $18.60 and its two-hundred day moving average is $26.33. The company has a market capitalization of $689.38 million, a P/E ratio of 3.77 and a beta of 1.51.

Customers Bancorp (NYSE:CUBI – Get Rating) last posted its quarterly earnings data on Thursday, April 27th. The bank reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.32. The firm had revenue of $181.74 million for the quarter, compared to analyst estimates of $150.10 million. Customers Bancorp had a net margin of 19.34% and a return on equity of 19.41%. Equities analysts forecast that Customers Bancorp, Inc. will post 5.83 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CUBI shares. TheStreet cut shares of Customers Bancorp from a “b-” rating to a “c+” rating in a report on Friday, March 17th. Keefe, Bruyette & Woods cut their price target on shares of Customers Bancorp from $51.00 to $45.00 and set an “outperform” rating on the stock in a research note on Thursday, April 6th. Maxim Group upped their price objective on shares of Customers Bancorp from $40.00 to $45.00 in a research note on Monday, May 1st. Finally, StockNews.com assumed coverage on Customers Bancorp in a research report on Thursday. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.13.

Customers Bancorp Profile

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Customers Bancorp, Inc engages in the provision of banking services through its subsidiary, Customers Bank. The firm also provides banking products such as loans and deposits to businesses and consumers through its branches, limited production, and administrative offices. The company was founded in 1997 and is headquartered in West Reading, PA.