Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 13.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 254,800 shares of the bank’s stock after selling 38,296 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Customers Bancorp were worth $14,682,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BluePath Capital Management LLC purchased a new stake in shares of Customers Bancorp during the 3rd quarter worth $31,000. Gyon Technologies Capital Management LP purchased a new stake in Customers Bancorp during the 4th quarter worth about $38,000. Coppell Advisory Solutions LLC acquired a new position in shares of Customers Bancorp during the 2nd quarter worth about $56,000. Tower Research Capital LLC TRC increased its holdings in shares of Customers Bancorp by 129.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,253 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth about $87,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CUBI has been the subject of a number of research analyst reports. B. Riley increased their price target on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Jefferies Financial Group upped their target price on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. Wedbush reduced their price target on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, January 26th. Finally, Raymond James upped their price objective on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and an average target price of $61.86.

Customers Bancorp Stock Down 4.9 %

Shares of NYSE:CUBI opened at $46.62 on Tuesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91. Customers Bancorp, Inc. has a 1-year low of $15.80 and a 1-year high of $60.09. The firm has a fifty day moving average price of $52.07 and a 200 day moving average price of $48.26. The stock has a market cap of $1.47 billion, a P/E ratio of 6.38 and a beta of 1.67.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. The company had revenue of $191.18 million during the quarter, compared to analysts’ expectations of $187.87 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. Sell-side analysts predict that Customers Bancorp, Inc. will post 6.87 EPS for the current year.

Insider Transactions at Customers Bancorp

In related news, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the completion of the transaction, the insider now directly owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the sale, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The disclosure for this sale can be found here. Company insiders own 9.40% of the company’s stock.

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.