Customers Bancorp, Inc. (NYSE:CUBI) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC increased its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 120.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 55,916 shares of the bank’s stock after buying an additional 30,567 shares during the quarter. Intech Investment Management LLC owned about 0.18% of Customers Bancorp worth $2,722,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Basswood Capital Management L.L.C. purchased a new stake in Customers Bancorp in the 3rd quarter worth approximately $26,000. Picton Mahoney Asset Management boosted its position in Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock worth $28,000 after purchasing an additional 189 shares in the last quarter. R Squared Ltd purchased a new stake in Customers Bancorp in the 4th quarter worth approximately $42,000. KBC Group NV boosted its position in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after purchasing an additional 677 shares in the last quarter. Finally, Quest Partners LLC boosted its position in Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on CUBI shares. Maxim Group increased their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 27th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. DA Davidson increased their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Stephens reiterated an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $64.00.

Insiders Place Their Bets

In related news, CEO Jay S. Sidhu sold 67,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. The trade was a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glenn Hedde sold 15,815 shares of the business’s stock in a transaction dated 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 in the company, 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. Insiders sold 115,988 shares of company stock valued at $6,627,318 in the last three months. 6.92% of the stock is currently owned by insiders.

Customers Bancorp Stock Up 1.8 %

NYSE CUBI opened at $51.47 on Thursday. The business has a fifty day moving average price of $53.01 and a 200 day moving average price of $50.84. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $1.62 billion, a P/E ratio of 10.13 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 EPS for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Research analysts anticipate that Customers Bancorp, Inc. will post 6.45 EPS 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.