Customers Bancorp, Inc. (NYSE:CUBI) Shares Bought by Sippican Capital Advisors

Sippican Capital Advisors grew its position in Customers Bancorp, Inc. (NYSE:CUBI) by 34.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,769 shares of the bank’s stock after acquiring an additional 9,190 shares during the quarter. Customers Bancorp comprises approximately 1.3% of Sippican Capital Advisors’ portfolio, making the stock its 28th biggest position. Sippican Capital Advisors owned approximately 0.11% of Customers Bancorp worth $1,741,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Customers Bancorp by 88.9% in the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after acquiring an additional 225,785 shares in the last quarter. State Street Corp boosted its holdings 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. Wolverine Asset Management LLC acquired a new position in Customers Bancorp during the 3rd quarter worth approximately $3,470,000. Walleye Capital LLC raised its stake in shares of Customers Bancorp by 536.3% during the 3rd quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock worth $1,786,000 after buying an additional 32,407 shares in the last quarter. Finally, Quantbot Technologies LP lifted its holdings in shares of Customers Bancorp by 94.2% in the 3rd quarter. Quantbot Technologies LP now owns 63,036 shares of the bank’s stock valued at $2,928,000 after buying an additional 30,573 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CUBI has been the topic of a number of recent analyst reports. Maxim Group upped their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. Keefe, Bruyette & Woods increased their price target on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday. Raymond James decreased their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler dropped their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Finally, StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Activity

In related news, CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the transaction, the chief executive officer now directly owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the sale, the insider now directly owns 66,256 shares in the company, valued at approximately $3,556,622.08. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,440 shares of company stock valued at $5,425,815 over the last 90 days. Insiders own 6.92% of the company’s stock.

Customers Bancorp Price Performance

CUBI stock opened at $57.41 on Thursday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The stock’s 50 day moving average price is $51.63 and its 200 day moving average price is $51.08. The firm has a market cap of $1.80 billion, a P/E ratio of 9.32 and a beta of 1.68. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. On average, sell-side analysts expect that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

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.