1,454 Shares in Customers Bancorp, Inc. (NYSE:CUBI) Purchased by GAMMA Investing LLC

GAMMA Investing LLC bought a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) during the 4th quarter, HoldingsChannel reports. The firm bought 1,454 shares of the bank’s stock, valued at approximately $78,000.

A number of other large investors also recently made changes to their positions in CUBI. Federated Hermes Inc. grew its position in Customers Bancorp by 3,784.1% during the fourth quarter. Federated Hermes Inc. now owns 138,196 shares of the bank’s stock valued at $7,963,000 after purchasing an additional 134,638 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Customers Bancorp by 55.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,381 shares of the bank’s stock valued at $425,000 after buying an additional 2,644 shares during the period. Cookson Peirce & Co. Inc. acquired a new stake in shares of Customers Bancorp during the 4th quarter valued at $234,000. Mackenzie Financial Corp purchased a new position in shares of Customers Bancorp during the 4th quarter valued at $238,000. Finally, Cornercap Investment Counsel Inc. purchased a new stake in shares of Customers Bancorp during the fourth quarter worth $1,254,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling at Customers Bancorp

In other news, CFO Carla A. Leibold sold 35,832 shares of the business’s stock in a transaction 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 sale, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Customers Bancorp news, insider Glenn Hedde sold 666 shares of the company’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 transaction, the insider now directly 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 the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp 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 sale, the chief financial officer now owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. Company insiders own 9.40% of the company’s stock.

Analyst Upgrades and Downgrades

CUBI has been the topic of a number of recent research reports. B. Riley boosted their target price 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 objective on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wedbush cut their price objective 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. Finally, 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 report on Monday, January 29th. Two investment 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. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.29.

Customers Bancorp Price Performance

NYSE:CUBI opened at $47.60 on Tuesday. Customers Bancorp, Inc. has a one year low of $15.80 and a one year high of $60.09. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market cap of $1.50 billion, a P/E ratio of 6.65 and a beta of 1.67. The company has a fifty day moving average price of $51.40 and a 200 day moving average price of $49.21.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The company had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. During the same period last year, the firm earned $1.58 EPS. The firm’s revenue for the quarter was up 8.1% compared to the same quarter last year. Analysts anticipate that Customers Bancorp, Inc. will post 6.85 earnings per share for the current year.

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.