DekaBank Deutsche Girozentrale Increases Position in Customers Bancorp, Inc. (NYSE:CUBI)

DekaBank Deutsche Girozentrale increased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 58.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,455 shares of the bank’s stock after buying an additional 2,004 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Customers Bancorp were worth $322,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its position in Customers Bancorp by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock valued at $10,554,000 after purchasing an additional 91,311 shares during the period. Victory Capital Management Inc. acquired a new position in Customers Bancorp during the third quarter valued at $1,712,000. Numerai GP LLC acquired a new position in Customers Bancorp during the third quarter valued at $363,000. American Century Companies Inc. lifted its position in Customers Bancorp by 14.6% during the third quarter. American Century Companies Inc. now owns 364,767 shares of the bank’s stock valued at $12,566,000 after purchasing an additional 46,347 shares during the period. Finally, Advisors Preferred LLC acquired a new position in Customers Bancorp during the fourth quarter valued at $1,297,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 666 shares of the company’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the transaction, the insider now owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. Insiders own 9.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CUBI. Wedbush decreased their target price 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. B. Riley boosted their target price on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Raymond James boosted their target price on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th. Finally, Jefferies Financial Group upped their price objective on shares of Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.86.

Customers Bancorp Trading Down 0.7 %

Shares of Customers Bancorp stock opened at $46.32 on Wednesday. The firm has a 50-day simple moving average of $51.99 and a two-hundred day simple moving average of $48.35. The company has a market cap of $1.46 billion, a P/E ratio of 6.34 and a beta of 1.67. Customers Bancorp, Inc. has a fifty-two week low of $15.80 and a fifty-two week high of $60.09. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. The firm had revenue of $191.18 million during the quarter, compared to the consensus estimate of $187.87 million. As a group, equities analysts predict that Customers Bancorp, Inc. will post 6.87 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.