Legal & General Group Plc Sells 4,188 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Legal & General Group Plc lessened its position in Customers Bancorp, Inc. (NYSE:CUBI) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,842 shares of the bank’s stock after selling 4,188 shares during the quarter. Legal & General Group Plc owned about 0.26% of Customers Bancorp worth $4,033,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its position in Customers Bancorp by 5.9% during the fourth quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock worth $37,667,000 after acquiring an additional 42,965 shares during the period. Geode Capital Management LLC raised its position in shares of Customers Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after buying an additional 17,941 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Customers Bancorp by 33.1% in the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock valued at $20,912,000 after buying an additional 106,895 shares during the period. Tieton Capital Management LLC grew its position in Customers Bancorp by 22.9% during the fourth quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank’s stock worth $14,135,000 after buying an additional 54,170 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock valued at $13,621,000 after acquiring an additional 90,451 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $46.31 on Wednesday. The stock’s fifty day moving average is $49.75 and its 200-day moving average is $50.79. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49. The stock has a market capitalization of $1.46 billion, a PE ratio of 9.12 and a beta of 1.47.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. Equities research analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In related news, insider Glenn Hedde sold 15,815 shares of the firm’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the transaction, the insider now owns 55,211 shares in the company, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay S. Sidhu sold 67,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the sale, the chief executive officer now directly owns 965,723 shares of the company’s stock, valued at $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 115,988 shares of company stock valued at $6,627,318 over the last quarter. Corporate insiders own 6.92% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.