Tower Research Capital LLC TRC Boosts Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Tower Research Capital LLC TRC increased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 167.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,339 shares of the bank’s stock after buying an additional 5,845 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Customers Bancorp were worth $455,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Picton Mahoney Asset Management boosted its holdings in Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after purchasing an additional 189 shares during the last quarter. R Squared Ltd acquired a new position in shares of Customers Bancorp in the 4th quarter valued at about $42,000. KBC Group NV boosted its stake in shares of Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after buying an additional 677 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after buying an additional 1,255 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock worth $151,000 after acquiring an additional 254 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CUBI has been the topic of several recent research reports. Stephens restated an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. 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 report on Monday, January 27th. Keefe, Bruyette & Woods decreased their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday. Finally, DA Davidson raised 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. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.80.

Customers Bancorp Stock Up 3.0 %

Shares of CUBI opened at $50.74 on Wednesday. The stock has a 50 day moving average price of $49.05 and a 200 day moving average price of $50.93. Customers Bancorp, Inc. has a one year low of $40.75 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 stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.99 and a beta of 1.47.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.26. The business had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. During the same quarter in the prior year, the firm earned $1.68 earnings per share. Equities research analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In related news, insider Glenn Hedde sold 15,815 shares of the firm’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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,988 shares of company stock worth $6,627,318. Insiders own 6.92% of the company’s stock.

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.