LSV Asset Management Trims Stock Holdings in Customers Bancorp, Inc $CUBI

LSV Asset Management lowered its stake in shares of Customers Bancorp, Inc (NYSE:CUBI) by 18.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 179,500 shares of the bank’s stock after selling 40,300 shares during the period. LSV Asset Management owned 0.57% of Customers Bancorp worth $10,544,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp purchased a new position in Customers Bancorp in the 1st quarter valued at about $37,000. Corton Capital Inc. acquired a new position in shares of Customers Bancorp in the second quarter valued at approximately $207,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Customers Bancorp in the second quarter valued at approximately $239,000. Ground Swell Capital LLC purchased a new position in shares of Customers Bancorp during the first quarter valued at approximately $208,000. Finally, Creative Planning purchased a new position in shares of Customers Bancorp during the second quarter valued at approximately $250,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Transactions at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 24,784 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $68.05, for a total transaction of $1,686,551.20. Following the completion of the sale, the chief executive officer owned 928,217 shares of the company’s stock, valued at approximately $63,165,166.85. This represents a 2.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bernard Bennett Banks sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $66.93, for a total transaction of $602,370.00. Following the completion of the transaction, the director owned 7,524 shares in the company, valued at $503,581.32. The trade was a 54.47% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 73,336 shares of company stock worth $4,983,184. Company insiders own 8.69% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on CUBI. Stephens lifted their target price on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Cowen restated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. DA Davidson lifted their price objective on Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Keefe, Bruyette & Woods upped their target price on Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Finally, B. Riley reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and an average price target of $82.88.

Customers Bancorp Stock Up 1.1%

Shares of NYSE CUBI opened at $65.02 on Thursday. The stock has a market capitalization of $2.22 billion, a PE ratio of 13.19 and a beta of 1.64. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm has a fifty day moving average of $66.19 and a 200-day moving average of $62.12. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $72.51.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The business had revenue of $206.82 million for the quarter. On average, analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current 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.