Cwm LLC Decreases Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Cwm LLC reduced its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 12.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,930 shares of the bank’s stock after selling 273 shares during the period. Cwm LLC’s holdings in Customers Bancorp were worth $111,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. BluePath Capital Management LLC purchased a new stake in shares of Customers Bancorp in the 3rd quarter worth about $31,000. C M Bidwell & Associates Ltd. purchased a new stake in shares of Customers Bancorp in the 3rd quarter worth about $112,000. Federated Hermes Inc. boosted its position 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 worth $123,000 after buying an additional 3,546 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new stake in shares of Customers Bancorp in the 4th quarter worth about $234,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Customers Bancorp in the 4th quarter worth about $238,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CUBI has been the topic of a number of recent research reports. B. Riley upped their target price 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. Raymond James upped their price objective on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Jefferies Financial Group upped their price objective on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wedbush dropped their price objective on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Finally, Hovde Group dropped their target price on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $61.50.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp 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 value of $1,904,470.80. Following the sale, the chief financial officer now directly owns 41,224 shares in the company, valued at $2,191,055.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Glenn Hedde sold 666 shares of Customers Bancorp 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 sale, the insider now directly owns 69,428 shares in the company, valued at $3,762,997.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of the business’s 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 owns 41,224 shares in the company, valued at $2,191,055.60. The disclosure for this sale can be found here. 6.92% of the stock is currently owned by company insiders.

Customers Bancorp Stock Performance

Customers Bancorp stock opened at $48.41 on Tuesday. 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 company has a market cap of $1.52 billion, a PE ratio of 6.76 and a beta of 1.67. Customers Bancorp, Inc. has a 12 month low of $16.41 and a 12 month high of $60.09. The company has a fifty day moving average price of $50.74 and a two-hundred day moving average price of $49.80.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. The company had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $183.48 million. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same period last year, the business posted $1.58 earnings per share. Research analysts expect that Customers Bancorp, Inc. will post 6.46 earnings per share for the current year.

Customers Bancorp 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.