Customers Bancorp, Inc. (NYSE:CUBI) is Tieton Capital Management LLC’s Largest Position

Tieton Capital Management LLC lowered its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 236,953 shares of the bank’s stock after selling 3,200 shares during the quarter. Customers Bancorp makes up 6.3% of Tieton Capital Management LLC’s holdings, making the stock its largest position. Tieton Capital Management LLC’s holdings in Customers Bancorp were worth $11,369,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of CUBI. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp in the second quarter valued at about $48,000. Innealta Capital LLC acquired a new stake in Customers Bancorp in the 2nd quarter worth about $74,000. Ashton Thomas Private Wealth LLC acquired a new stake in Customers Bancorp in the 2nd quarter worth about $151,000. Aigen Investment Management LP purchased a new stake in Customers Bancorp during the 4th quarter worth approximately $209,000. Finally, Coldstream Capital Management Inc. purchased a new position in shares of Customers Bancorp in the fourth quarter valued at approximately $218,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Customers Bancorp

In related news, CEO Samvir S. Sidhu acquired 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the acquisition, the chief executive officer now owns 144,504 shares in the company, valued at approximately $6,579,267.12. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.92% of the stock is owned by insiders.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $48.45 on Tuesday. Customers Bancorp, Inc. has a 12 month low of $31.16 and a 12 month high of $68.49. The company has a market capitalization of $1.53 billion, a PE ratio of 6.77 and a beta of 1.62. The firm’s 50-day moving average is $53.46 and its two-hundred day moving average is $50.27. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.65 earnings per share. Analysts predict that Customers Bancorp, Inc. will post 6.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

CUBI has been the subject of several research reports. Jefferies Financial Group dropped their price target on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Friday, August 9th. Wedbush raised their price target on shares of Customers Bancorp from $56.00 to $79.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. DA Davidson upped their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average target price of $65.50.

Customers Bancorp Company 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.