Zurcher Kantonalbank Zurich Cantonalbank Boosts Position in Customers Bancorp, Inc. (NYSE:CUBI)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 55.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,381 shares of the bank’s stock after buying an additional 2,644 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Customers Bancorp were worth $425,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. BluePath Capital Management LLC purchased a new position in Customers Bancorp in the 3rd quarter worth about $31,000. Raymond James Financial Services Advisors Inc. grew its holdings in Customers Bancorp by 14.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,796 shares of the bank’s stock worth $303,000 after acquiring an additional 1,125 shares in the last quarter. Wakefield Asset Management LLLP grew its holdings in Customers Bancorp by 9.3% during the 4th quarter. Wakefield Asset Management LLLP now owns 21,920 shares of the bank’s stock worth $1,263,000 after acquiring an additional 1,859 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in Customers Bancorp by 58.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 5,455 shares of the bank’s stock worth $322,000 after acquiring an additional 2,004 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in Customers Bancorp during the 3rd quarter worth about $112,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In related news, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp 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 in the company, valued at approximately $2,191,055.60. The transaction was disclosed in a document filed 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 firm’s stock in a transaction that occurred on 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 transaction, 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 is accessible 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 stock was sold at an average price of $53.15, for a total transaction 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 $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by company insiders.

Customers Bancorp Stock Up 1.8 %

NYSE:CUBI opened at $48.25 on Friday. Customers Bancorp, Inc. has a fifty-two week low of $15.80 and a fifty-two week high of $60.09. The stock has a market capitalization of $1.52 billion, a P/E ratio of 6.74 and a beta of 1.67. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93. The company’s 50-day simple moving average is $50.83 and its 200-day simple moving average is $49.48.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Friday, April 26th. The bank reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. The business had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $183.48 million. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The company’s revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business earned $1.58 EPS. On average, equities analysts anticipate that Customers Bancorp, Inc. will post 6.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

CUBI has been the topic of several recent research reports. Wedbush dropped their target price on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Hovde Group dropped their target price on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday. Jefferies Financial Group increased their target price on shares of Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, April 8th. B. Riley increased their target price on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Raymond James raised their price target on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $61.50.

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.