Zurcher Kantonalbank Zurich Cantonalbank Buys 2,644 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 55.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,381 shares of the bank’s stock after acquiring an additional 2,644 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Customers Bancorp were worth $425,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Cookson Peirce & Co. Inc. bought a new position in Customers Bancorp during the 4th quarter worth approximately $234,000. Mackenzie Financial Corp bought a new position in Customers Bancorp during the 4th quarter worth approximately $238,000. Cornercap Investment Counsel Inc. bought a new position in Customers Bancorp during the 4th quarter worth approximately $1,254,000. Vontobel Holding Ltd. bought a new position in Customers Bancorp during the 4th quarter worth approximately $314,000. Finally, Louisiana State Employees Retirement System bought a new position in Customers Bancorp during the 4th quarter worth approximately $812,000. 89.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Glenn Hedde sold 666 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the completion of the transaction, the insider now owns 69,428 shares in the company, valued at $3,762,997.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by company insiders.

Customers Bancorp Trading Up 1.8 %

NYSE CUBI opened at $48.25 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.89. Customers Bancorp, Inc. has a twelve month low of $15.80 and a twelve month high of $60.09. The firm has a market capitalization of $1.52 billion, a PE ratio of 6.74 and a beta of 1.67. The stock’s 50 day moving average is $50.83 and its 200 day moving average is $49.48.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Friday, April 26th. The bank reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.05. The company had revenue of $181.62 million for the quarter, compared to analyst estimates of $183.48 million. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The firm’s revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.58 earnings per share. Research analysts forecast that Customers Bancorp, Inc. will post 6.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CUBI. Hovde Group cut their price objective on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday. Jefferies Financial Group lifted their price objective on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Raymond James lifted their price objective on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 29th. B. Riley lifted their price objective on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Wedbush cut their price objective on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $61.50.

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.