Russell Investments Group Ltd. Has $6.43 Million Position in Customers Bancorp, Inc. (NYSE:CUBI)

Russell Investments Group Ltd. reduced its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 9.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,643 shares of the bank’s stock after selling 11,437 shares during the period. Russell Investments Group Ltd.’s holdings in Customers Bancorp were worth $6,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. GAMMA Investing LLC purchased a new position in shares of Customers Bancorp in the 4th quarter worth about $78,000. C M Bidwell & Associates Ltd. bought a new position in shares of Customers Bancorp during the third quarter valued at approximately $112,000. Federated Hermes Inc. increased its stake in Customers Bancorp by 29,550.0% during the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock valued at $123,000 after purchasing an additional 3,546 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new position in Customers Bancorp in the 4th quarter worth about $234,000. Finally, Mackenzie Financial Corp bought a new position in Customers Bancorp during the fourth quarter valued at approximately $238,000. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Performance

CUBI opened at $47.88 on Thursday. Customers Bancorp, Inc. has a 52-week low of $16.41 and a 52-week high of $60.09. The company has a market cap of $1.51 billion, a PE ratio of 6.69 and a beta of 1.67. The stock has a 50-day moving average of $50.51 and a 200-day moving average of $49.89. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping the consensus estimate of $1.63 by $0.05. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The business had revenue of $181.62 million during the quarter, compared to analysts’ expectations of $183.48 million. During the same quarter in the prior year, the company posted $1.58 earnings per share. The firm’s revenue was up 8.1% on a year-over-year basis. As a group, equities research analysts forecast that Customers Bancorp, Inc. will post 6.46 earnings per share for the current fiscal year.

Insider Activity

In other Customers Bancorp news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction that occurred 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 completion of 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 filing with the SEC, which is available at the SEC website. 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 value of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 69,428 shares in the company, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. 6.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

CUBI has been the topic of a number of research reports. Hovde Group cut their target price on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. 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. Wedbush lowered their target price 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. 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 report on Monday, January 29th. Finally, B. Riley lifted their price objective on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

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.