Intech Investment Management LLC Raises Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Intech Investment Management LLC boosted its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 120.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 55,916 shares of the bank’s stock after acquiring an additional 30,567 shares during the period. Intech Investment Management LLC’s holdings in Customers Bancorp were worth $2,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Basswood Capital Management L.L.C. acquired a new position in Customers Bancorp in the 3rd quarter valued at about $26,000. Picton Mahoney Asset Management grew its position in Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after acquiring an additional 189 shares in the last quarter. R Squared Ltd acquired a new position in Customers Bancorp in the 4th quarter valued at about $42,000. KBC Group NV grew its position in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after acquiring an additional 677 shares in the last quarter. Finally, Quest Partners LLC grew its position in Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after acquiring an additional 962 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Customers Bancorp Stock Performance

Shares of CUBI opened at $51.47 on Thursday. The stock has a 50 day moving average price of $53.01 and a 200 day moving average price of $50.84. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 10.13 and a beta of 1.74. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results 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 12.29% and a net margin of 13.07%. Research analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now owns 965,723 shares of the company’s stock, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,988 shares of company stock valued at $6,627,318 over the last three months. 6.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Keefe, Bruyette & Woods lifted 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, January 27th. Stephens reissued an “equal weight” rating and set a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson boosted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, Maxim Group boosted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Six equities research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

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.