Mackenzie Financial Corp Makes New $238,000 Investment in Customers Bancorp, Inc. (NYSE:CUBI)

Mackenzie Financial Corp purchased a new stake in Customers Bancorp, Inc. (NYSE:CUBI) in the fourth quarter, HoldingsChannel reports. The firm purchased 4,133 shares of the bank’s stock, valued at approximately $238,000.

Other hedge funds have also modified their holdings of the company. BluePath Capital Management LLC acquired a new position in Customers Bancorp during the third quarter valued at approximately $31,000. C M Bidwell & Associates Ltd. bought a new position in shares of Customers Bancorp during the third quarter worth $112,000. Federated Hermes Inc. grew its holdings in shares of Customers Bancorp by 29,550.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock valued at $123,000 after buying an additional 3,546 shares during the period. Olympiad Research LP bought a new stake in shares of Customers Bancorp in the 3rd quarter valued at $283,000. Finally, Mutual of America Capital Management LLC acquired a new stake in shares of Customers Bancorp during the fourth quarter worth about $285,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Customers Bancorp

In other news, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total transaction of $36,097.20. Following the completion of the sale, the insider now owns 69,428 shares in the company, valued at approximately $3,762,997.60. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Customers Bancorp 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 value of $1,904,470.80. Following the transaction, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Glenn Hedde sold 666 shares of the 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 transaction, the insider now owns 69,428 shares in the company, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. Corporate insiders own 9.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CUBI shares. B. Riley lifted their price objective on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a report on Monday, January 29th. Wedbush cut their price target on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday. Jefferies Financial Group raised 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. Finally, Raymond James upped their target price on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, January 29th. Two 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.29.

Customers Bancorp Trading Down 5.5 %

Customers Bancorp stock opened at $46.82 on Monday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a 50-day simple moving average of $51.40 and a 200 day simple moving average of $49.10. The stock has a market capitalization of $1.47 billion, a P/E ratio of 6.54 and a beta of 1.67. Customers Bancorp, Inc. has a 52 week low of $15.80 and a 52 week high of $60.09.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. Customers Bancorp had a return on equity of 18.62% and a net margin of 16.88%. The company had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. During the same period in the previous year, the company posted $1.58 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts expect that Customers Bancorp, Inc. will post 6.85 earnings per share for the current 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.