Louisiana State Employees Retirement System Makes New $812,000 Investment in Customers Bancorp, Inc. (NYSE:CUBI)

Louisiana State Employees Retirement System bought a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 14,100 shares of the bank’s stock, valued at approximately $812,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Wellington Management Group LLP lifted its stake in Customers Bancorp by 28.7% during the third 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in Customers Bancorp by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 372,690 shares of the bank’s stock worth $12,839,000 after purchasing an additional 14,158 shares during the last quarter. American Century Companies Inc. lifted its stake in Customers Bancorp by 14.6% during the third quarter. American Century Companies Inc. now owns 364,767 shares of the bank’s stock worth $12,566,000 after purchasing an additional 46,347 shares during the last quarter. LSV Asset Management lifted its stake in Customers Bancorp by 7.8% during the third quarter. LSV Asset Management now owns 364,500 shares of the bank’s stock worth $12,557,000 after purchasing an additional 26,331 shares during the last quarter. Finally, Great Lakes Advisors LLC lifted its stake in Customers Bancorp by 9.6% during the third quarter. Great Lakes Advisors LLC now owns 293,234 shares of the bank’s stock worth $10,102,000 after purchasing an additional 25,565 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Down 5.5 %

Shares of NYSE:CUBI opened at $46.82 on Friday. The firm has a market cap of $1.47 billion, a P/E ratio of 6.40 and a beta of 1.67. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.92. Customers Bancorp, Inc. has a 12-month low of $15.80 and a 12-month high of $60.09. The business has a fifty day simple moving average of $51.53 and a 200 day simple moving average of $48.89.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.06. The business had revenue of $181.62 million during the quarter, compared to analyst estimates of $183.48 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. Customers Bancorp’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the company earned $1.58 EPS. Analysts predict that Customers Bancorp, Inc. will post 6.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. B. Riley increased their price target on 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 increased their price target on Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Raymond James increased their price target on Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Finally, Wedbush dropped their price target on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday. Two 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.29.

Insider Buying and Selling

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,191,055.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction dated 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 in the company, valued at approximately $2,191,055.60. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Glenn Hedde sold 666 shares of the stock in a transaction dated 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 owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by corporate insiders.

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.