Customers Bancorp, Inc. (NYSE:CUBI) Shares Purchased by Fmr LLC

Fmr LLC boosted its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 112.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,720 shares of the bank’s stock after purchasing an additional 8,314 shares during the period. Fmr LLC’s holdings in Customers Bancorp were worth $730,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Ridgewood Investments LLC acquired a new position in Customers Bancorp in the second quarter valued at $48,000. GAMMA Investing LLC lifted its stake in shares of Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after purchasing an additional 282 shares in the last quarter. Innealta Capital LLC acquired a new stake in Customers Bancorp during the 2nd quarter worth approximately $74,000. Quest Partners LLC raised its holdings in Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after buying an additional 962 shares during the period. Finally, CWM LLC lifted its position in Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after buying an additional 274 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the transaction, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at $65,114,360.74. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Robert Neil Mackay sold 4,000 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. The trade was a 46.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 96,440 shares of company stock valued at $5,425,815. Insiders own 6.92% of the company’s stock.

Customers Bancorp Trading Down 3.5 %

Shares of CUBI opened at $51.49 on Wednesday. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The stock has a 50-day moving average price of $51.30 and a 200 day moving average price of $50.45. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $1.61 billion, a P/E ratio of 8.36 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). The business had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business’s quarterly revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 earnings per share. Sell-side analysts forecast that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CUBI. Stephens increased their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Finally, Raymond James reduced their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.22.

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.