Vontobel Holding Ltd. Invests $314,000 in Customers Bancorp, Inc. (NYSE:CUBI)

Vontobel Holding Ltd. purchased a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI) during the fourth quarter, Holdings Channel.com reports. The fund purchased 5,456 shares of the bank’s stock, valued at approximately $314,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CUBI. Wellington Management Group LLP raised its position in shares of Customers Bancorp by 28.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,132,205 shares of the bank’s stock worth $73,454,000 after purchasing an additional 475,907 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Customers Bancorp by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock worth $10,554,000 after purchasing an additional 91,311 shares during the period. Quantedge Capital Pte Ltd acquired a new stake in Customers Bancorp in the 3rd quarter valued at approximately $2,181,000. Victory Capital Management Inc. acquired a new stake in Customers Bancorp in the 3rd quarter valued at approximately $1,712,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Customers Bancorp in the 3rd quarter valued at approximately $1,619,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Customers Bancorp Stock Up 2.9 %

Shares of CUBI stock opened at $50.40 on Wednesday. Customers Bancorp, Inc. has a 1 year low of $15.80 and a 1 year high of $60.09. The stock has a market cap of $1.59 billion, a PE ratio of 6.89 and a beta of 1.67. The business’s fifty day moving average is $51.70 and its 200-day moving average is $48.76. 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 issued its quarterly earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $187.87 million. Equities analysts expect that Customers Bancorp, Inc. will post 6.85 earnings per share for the current fiscal year.

Insider Transactions at Customers Bancorp

In other news, CFO Carla A. Leibold sold 35,832 shares of the firm’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 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 filing with the SEC, which is accessible through this hyperlink. In other news, CFO Carla A. Leibold sold 35,832 shares of the firm’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 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 filing with the SEC, which is accessible through this hyperlink. Also, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The disclosure for this sale can be found here. Corporate 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.