Geode Capital Management LLC Lowers Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Geode Capital Management LLC reduced its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 0.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 683,684 shares of the bank’s stock after selling 3,446 shares during the quarter. Geode Capital Management LLC owned 2.18% of Customers Bancorp worth $33,289,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Picton Mahoney Asset Management increased its position in shares of Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after buying an additional 189 shares in the last quarter. R Squared Ltd acquired a new stake in Customers Bancorp in the 4th quarter valued at $42,000. KBC Group NV increased its holdings in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after acquiring an additional 677 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Customers Bancorp by 323.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after acquiring an additional 1,255 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in Customers Bancorp by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock valued at $272,000 after purchasing an additional 333 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Customers Bancorp news, CEO Jay S. Sidhu sold 33,173 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the completion of the transaction, the chief executive officer now owns 1,032,723 shares of the company’s stock, valued at $59,123,391.75. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total transaction of $921,223.75. Following the transaction, the insider now directly owns 55,211 shares of the company’s stock, valued at $3,216,040.75. The trade was a 22.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CUBI. Maxim Group upped their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, January 27th. DA Davidson lifted their price target on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Finally, Stephens reissued an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Customers Bancorp has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Customers Bancorp Stock Down 0.3 %

NYSE CUBI opened at $45.07 on Thursday. The business’s fifty day simple moving average is $50.67 and its 200-day simple moving average is $50.75. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.42 billion, a PE ratio of 8.87 and a beta of 1.47. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, equities analysts anticipate that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

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.