Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp reduced its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,687 shares of the bank’s stock after selling 1,438 shares during the period. Texas Permanent School Fund Corp owned about 0.08% of Customers Bancorp worth $777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CUBI. Fifth Third Bancorp raised its position in shares of Customers Bancorp by 81.0% during the 2nd quarter. Fifth Third Bancorp now owns 970 shares of the bank’s stock valued at $29,000 after acquiring an additional 434 shares in the last quarter. Parallel Advisors LLC grew its stake in Customers Bancorp by 8,341.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,013 shares of the bank’s stock worth $31,000 after buying an additional 1,001 shares during the last quarter. Gyon Technologies Capital Management LP bought a new position in Customers Bancorp during the 4th quarter worth $38,000. Tower Research Capital LLC TRC grew its stake in Customers Bancorp by 129.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock worth $41,000 after buying an additional 1,253 shares during the last quarter. Finally, Belpointe Asset Management LLC grew its stake in Customers Bancorp by 722.5% during the 1st quarter. Belpointe Asset Management LLC now owns 2,673 shares of the bank’s stock worth $50,000 after buying an additional 2,348 shares during the last quarter. 82.12% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Customers Bancorp

In related news, CFO Carla A. Leibold sold 16,619 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $34.33, for a total transaction of $570,530.27. Following the completion of the transaction, the chief financial officer now owns 79,387 shares of the company’s stock, valued at $2,725,355.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Jessie John Deano Velasquez sold 1,364 shares of the company’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $44.35, for a total transaction of $60,493.40. Following the completion of the sale, the chief accounting officer now directly owns 3,644 shares of the company’s stock, valued at $161,611.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Carla A. Leibold sold 16,619 shares of the company’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $34.33, for a total value of $570,530.27. Following the sale, the chief financial officer now directly owns 79,387 shares of the company’s stock, valued at $2,725,355.71. The disclosure for this sale can be found here. Insiders sold 169,223 shares of company stock valued at $6,697,946 over the last 90 days. 9.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on the company. StockNews.com assumed coverage on Customers Bancorp in a research note on Thursday, October 5th. They set a “hold” rating for the company. Maxim Group upped their price objective on Customers Bancorp from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Jefferies Financial Group lowered their price objective on Customers Bancorp from $51.00 to $42.00 in a research note on Tuesday, October 10th. DA Davidson increased their price target on Customers Bancorp from $42.00 to $53.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Wedbush reissued an “outperform” rating and issued a $50.00 price target on shares of Customers Bancorp in a research note on Wednesday, September 6th. Two investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.63.

Customers Bancorp Trading Down 1.2 %

Shares of CUBI stock opened at $45.84 on Tuesday. The stock has a 50-day simple moving average of $36.36 and a 200 day simple moving average of $33.26. Customers Bancorp, Inc. has a fifty-two week low of $6.87 and a fifty-two week high of $46.63. The stock has a market capitalization of $1.43 billion, a P/E ratio of 7.29 and a beta of 1.60. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.20.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, October 26th. The bank reported $2.59 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.99. Customers Bancorp had a return on equity of 18.13% and a net margin of 15.89%. The business had revenue of $217.55 million during the quarter, compared to analysts’ expectations of $182.29 million. On average, sell-side analysts expect that Customers Bancorp, Inc. will post 7.56 earnings per share for the current fiscal year.

About Customers Bancorp

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.