Royce & Associates LP increased its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI – Free Report) by 17.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 252,590 shares of the bank’s stock after buying an additional 37,788 shares during the period. Royce & Associates LP owned 0.81% of Customers Bancorp worth $12,296,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Basswood Capital Management L.L.C. bought a new stake in Customers Bancorp in the third quarter valued at approximately $26,000. Picton Mahoney Asset Management increased its stake 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 in the last quarter. R Squared Ltd bought a new stake in Customers Bancorp in the fourth quarter valued at approximately $42,000. KBC Group NV increased its stake in Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares in the last quarter. Finally, Quest Partners LLC boosted its holdings in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after buying an additional 962 shares during the period. 89.29% of the stock is owned by institutional investors.
Insider Activity
In other news, CEO Jay S. Sidhu sold 33,173 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $57.25, for a total value of $1,899,154.25. Following the transaction, the chief executive officer now directly owns 1,032,723 shares of the company’s stock, valued at $59,123,391.75. This represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Glenn Hedde sold 15,815 shares of the 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 transaction, the insider now directly owns 55,211 shares in the company, valued at $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock valued at $6,627,318 over the last ninety days. 6.92% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Read Our Latest Analysis on Customers Bancorp
Customers Bancorp Stock Performance
Shares of CUBI stock opened at $51.00 on Tuesday. The stock has a market cap of $1.60 billion, a P/E ratio of 10.04 and a beta of 1.74. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The company has a fifty day moving average price of $52.86 and a two-hundred 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.
Customers Bancorp (NYSE:CUBI – Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, equities analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current 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.
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