Mutual of America Capital Management LLC Takes Position in Customers Bancorp, Inc. (NYSE:CUBI)

Mutual of America Capital Management LLC purchased a new stake in Customers Bancorp, Inc. (NYSE:CUBI) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 4,948 shares of the bank’s stock, valued at approximately $285,000.

Other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in Customers Bancorp by 99.4% in the 4th 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 in the last quarter. Victory Capital Management Inc. acquired a new stake in Customers Bancorp in the 3rd quarter valued at about $1,712,000. Numerai GP LLC purchased a new position in shares of Customers Bancorp in the 3rd quarter valued at about $363,000. American Century Companies Inc. increased its holdings in shares of Customers Bancorp by 14.6% in the 3rd quarter. American Century Companies Inc. now owns 364,767 shares of the bank’s stock valued at $12,566,000 after acquiring an additional 46,347 shares during the last quarter. Finally, Advisors Preferred LLC purchased a new position in shares of Customers Bancorp in the 4th quarter valued at about $1,297,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Stock Up 2.9 %

Customers Bancorp stock opened at $50.40 on Wednesday. Customers Bancorp, Inc. has a twelve month low of $15.80 and a twelve month high of $60.09. The stock has a 50 day moving average of $51.70 and a two-hundred day moving average of $48.76. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 6.89 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. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The company had revenue of $191.18 million during the quarter, compared to analysts’ expectations of $187.87 million. As a group, research analysts expect that Customers Bancorp, Inc. will post 6.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CUBI. Jefferies Financial Group increased their price objective on Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. B. Riley increased their price objective on Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a report on Monday, January 29th. Wedbush dropped their price objective on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Finally, Raymond James increased their price objective on Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $61.86.

Insiders Place Their Bets

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the sale, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by insiders.

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.