Royce & Associates LP Acquires 37,788 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Royce & Associates LP increased its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) 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

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

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) 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.