LSV Asset Management Decreases Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

LSV Asset Management trimmed its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 23.6% in the 4th quarter, HoldingsChannel reports. The firm owned 227,800 shares of the bank’s stock after selling 70,200 shares during the period. LSV Asset Management’s holdings in Customers Bancorp were worth $11,089,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. FMR LLC grew its position in shares of Customers Bancorp by 112.3% during the third quarter. FMR LLC now owns 15,720 shares of the bank’s stock worth $730,000 after buying an additional 8,314 shares in the last quarter. State Street Corp lifted its stake in Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after acquiring an additional 169,982 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Customers Bancorp in the third quarter worth approximately $736,000. Barclays PLC grew its holdings in Customers Bancorp by 46.9% during the 3rd quarter. Barclays PLC now owns 89,879 shares of the bank’s stock worth $4,175,000 after acquiring an additional 28,683 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Customers Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after purchasing an additional 17,941 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction that occurred on 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 owns 965,723 shares of the company’s stock, valued at approximately $54,872,380.86. The trade was a 6.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 value of $921,223.75. Following the transaction, the insider now directly owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,988 shares of company stock valued at $6,627,318. Insiders own 6.92% of the company’s stock.

Analyst Upgrades and Downgrades

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

Customers Bancorp Trading Down 0.0 %

CUBI opened at $43.87 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49. The business’s 50 day moving average is $51.45 and its two-hundred day moving average is $50.79. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 8.64 and a beta of 1.47.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating 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%. On average, research analysts predict that Customers Bancorp, Inc. will post 6.45 EPS 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.