Royce & Associates LP Acquires 37,788 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Royce & Associates LP boosted its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,590 shares of the bank’s stock after buying an additional 37,788 shares during the period. Royce & Associates LP’s holdings in Customers Bancorp were worth $12,296,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CUBI. Los Angeles Capital Management LLC acquired a new stake in Customers Bancorp during the third quarter worth about $294,000. Empowered Funds LLC grew its stake in Customers Bancorp by 5.2% during the third quarter. Empowered Funds LLC now owns 21,640 shares of the bank’s stock worth $1,005,000 after buying an additional 1,072 shares in the last quarter. Quest Partners LLC grew its stake in Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after buying an additional 962 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Customers Bancorp by 176.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,965 shares of the bank’s stock valued at $927,000 after purchasing an additional 12,739 shares in the last quarter. Finally, Intech Investment Management LLC boosted its stake in shares of Customers Bancorp by 74.2% in the 3rd quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock valued at $1,177,000 after purchasing an additional 10,797 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on CUBI. Stephens restated an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price target 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. Maxim Group raised their price target 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. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Finally, DA Davidson raised their price target 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. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Customers Bancorp Stock Up 0.4 %

Customers Bancorp stock opened at $51.00 on Tuesday. 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 $42.31 and a 52-week high of $68.49. The firm has a 50 day moving average price of $52.86 and a two-hundred day moving average price of $50.84. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 10.04 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping 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 analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now owns 965,723 shares in the company, valued at $54,872,380.86. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction 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 completion of the sale, the insider now 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 115,988 shares of company stock worth $6,627,318. 6.92% of the stock is currently owned by insiders.

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.