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Renaissance Technologies LLC decreased its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI – Free Report) by 38.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 71,370 shares of the bank’s stock after selling 45,150 shares during the quarter. Renaissance Technologies LLC’s holdings in Customers Bancorp were worth $3,474,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the business. Gator Capital Management LLC boosted its position in Customers Bancorp by 135.0% during the fourth quarter. Gator Capital Management LLC now owns 178,801 shares of the bank’s stock worth $8,704,000 after acquiring an additional 102,701 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Customers Bancorp by 20.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 17,777 shares of the bank’s stock worth $865,000 after purchasing an additional 2,994 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Customers Bancorp by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,424 shares of the bank’s stock worth $848,000 after purchasing an additional 3,792 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of Customers Bancorp in the fourth quarter valued at approximately $2,960,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at approximately $7,672,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.
Customers Bancorp Stock Performance
NYSE:CUBI opened at $46.31 on Wednesday. Customers Bancorp, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The company has a 50 day moving average price of $49.75 and a 200 day moving average price of $50.79. The stock has a market capitalization of $1.46 billion, a P/E ratio of 9.12 and a beta of 1.47.
Customers Bancorp (NYSE:CUBI – Get Free Report) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Equities research analysts forecast that Customers Bancorp, Inc. will post 6.45 EPS for the current year.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on CUBI shares. Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. DA Davidson boosted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and set a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, Maxim Group boosted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.
Check Out Our Latest Stock Analysis on CUBI
Insider Transactions at Customers Bancorp
In related news, insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the sale, the insider now directly owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This represents a 22.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is currently owned by corporate insiders.
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.
Further Reading
Want to see what other hedge funds are holding CUBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Customers Bancorp, Inc. (NYSE:CUBI – Free Report).
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