[ad_1]
Marshall Wace LLP lowered its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI – Free Report) by 69.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,354 shares of the bank’s stock after selling 46,673 shares during the quarter. Marshall Wace LLP owned approximately 0.06% of Customers Bancorp worth $991,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in 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 worth $28,000 after purchasing an additional 189 shares during the last quarter. R Squared Ltd purchased a new stake in Customers Bancorp during the fourth quarter valued at about $42,000. KBC Group NV raised its position in Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake 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 purchasing an additional 1,255 shares during the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock worth $151,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.
Customers Bancorp Stock Performance
Customers Bancorp stock opened at $50.02 on Thursday. Customers Bancorp, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The stock’s 50 day simple moving average is $48.99 and its two-hundred day simple moving average is $50.92. 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 stock has a market cap of $1.57 billion, a price-to-earnings ratio of 9.85 and a beta of 1.47.
Customers Bancorp (NYSE:CUBI – Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.26. The company had revenue of $194.28 million for the quarter, compared to analysts’ expectations of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same period in the prior year, the firm earned $1.68 earnings per share. As a group, analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Customers Bancorp news, CEO Jay S. Sidhu sold 33,173 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $57.25, for a total value of $1,899,154.25. Following the sale, the chief executive officer now owns 1,032,723 shares in the company, valued at approximately $59,123,391.75. This represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.92% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on CUBI. Maxim Group upped their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods dropped their price objective on Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday. Stephens reaffirmed an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a research note on Friday, January 24th. Finally, DA Davidson increased 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. 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.80.
Read Our Latest Analysis on Customers Bancorp
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.
Featured Stories
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).
Receive News & Ratings for Customers Bancorp Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Customers Bancorp and related companies with MarketBeat.com’s FREE daily email newsletter.
[ad_2]
Source link