Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. grew its position in Customers Bancorp, Inc. (NYSE:CUBI) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 773,772 shares of the bank’s stock after buying an additional 42,965 shares during the quarter. American Century Companies Inc. owned 2.47% of Customers Bancorp worth $37,667,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of CUBI. State Street Corp raised its position in Customers Bancorp by 10.5% in the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after purchasing an additional 169,982 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock worth $13,621,000 after purchasing an additional 90,451 shares during the last quarter. First Eagle Investment Management LLC purchased a new stake in Customers Bancorp during the fourth quarter worth approximately $3,379,000. Raymond James Financial Inc. acquired a new position in Customers Bancorp in the fourth quarter valued at approximately $2,543,000. Finally, Royce & Associates LP grew its position in shares of Customers Bancorp by 17.6% in the 4th quarter. Royce & Associates LP now owns 252,590 shares of the bank’s stock valued at $12,296,000 after buying an additional 37,788 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. DA Davidson upped 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. Maxim Group increased 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 lifted their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, 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. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Insider Buying and Selling at Customers Bancorp

In related news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Jay S. Sidhu sold 33,173 shares of the business’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 directly owns 1,032,723 shares of the company’s stock, valued at approximately $59,123,391.75. This trade represents a 3.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,988 shares of company stock worth $6,627,318 in the last 90 days. 6.92% of the stock is owned by company insiders.

Customers Bancorp Stock Performance

NYSE CUBI opened at $51.88 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 fifty-two week low of $42.31 and a fifty-two week high of $68.49. The business has a fifty day moving average of $53.58 and a 200-day moving average of $50.93. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 10.21 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI) last posted 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 net margin of 13.07% and a return on equity of 12.29%. As a group, analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

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.