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

Sippican Capital Advisors boosted its position in Customers Bancorp, Inc. (NYSE:CUBI) by 34.6% during the fourth quarter, Holdings Channel.com reports. The fund owned 35,769 shares of the bank’s stock after purchasing an additional 9,190 shares during the quarter. Customers Bancorp accounts for 1.3% of Sippican Capital Advisors’ holdings, making the stock its 28th largest holding. Sippican Capital Advisors’ holdings in Customers Bancorp were worth $1,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Basswood Capital Management L.L.C. acquired a new stake in Customers Bancorp in the 3rd quarter valued at $26,000. R Squared Ltd purchased a new stake in shares of Customers Bancorp in the fourth quarter worth about $42,000. GAMMA Investing LLC grew its position in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares in the last quarter. KBC Group NV increased its stake in Customers Bancorp by 82.8% during the 4th 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 period. Finally, Quest Partners LLC increased its stake in Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after buying an additional 962 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. 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 note on Monday. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Keefe, Bruyette & Woods upped 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. B. Riley raised their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Six investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.00.

Insider Activity at Customers Bancorp

In related news, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the sale, the director now directly owns 4,567 shares in the company, valued at $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay S. Sidhu sold 860 shares of the stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $54.73, for a total transaction of $47,067.80. Following the completion of the transaction, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at $65,114,360.74. This represents a 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,440 shares of company stock worth $5,425,815 in the last ninety days. 6.92% of the stock is owned by insiders.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $57.41 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The firm has a 50-day simple moving average of $51.63 and a 200 day simple moving average of $51.08. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a market cap of $1.80 billion, a PE ratio of 9.32 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating 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 anticipate that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

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.