Bailard Inc. Acquires New Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Bailard Inc. purchased a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 13,900 shares of the bank’s stock, valued at approximately $801,000.

Several other hedge funds have also recently added to or reduced their stakes in CUBI. BluePath Capital Management LLC purchased a new position in shares of Customers Bancorp in the third quarter worth about $31,000. GAMMA Investing LLC purchased a new stake in Customers Bancorp during the 4th quarter valued at $78,000. Counterpoint Mutual Funds LLC purchased a new position in shares of Customers Bancorp in the 3rd quarter worth $87,000. C M Bidwell & Associates Ltd. purchased a new position in shares of Customers Bancorp in the 3rd quarter worth $112,000. Finally, Federated Hermes Inc. boosted its stake in shares of Customers Bancorp by 29,550.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock worth $123,000 after buying an additional 3,546 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CUBI. Jefferies Financial Group raised their target price on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Raymond James lifted their target price on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, January 29th. B. Riley lifted their target price on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Finally, Wedbush dropped their price target on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $61.29.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Glenn Hedde sold 666 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the completion of the sale, the insider now owns 69,428 shares in the company, valued at $3,762,997.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. Company insiders own 9.40% of the company’s stock.

Customers Bancorp Stock Down 5.5 %

Shares of NYSE:CUBI opened at $46.82 on Friday. Customers Bancorp, Inc. has a 1 year low of $15.80 and a 1 year high of $60.09. The business has a 50 day simple moving average of $51.53 and a two-hundred day simple moving average of $48.89. The firm has a market capitalization of $1.47 billion, a PE ratio of 6.54 and a beta of 1.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.06. Customers Bancorp had a return on equity of 18.62% and a net margin of 16.88%. The business had revenue of $181.62 million during the quarter, compared to analyst estimates of $183.48 million. During the same quarter in the previous year, the business earned $1.58 earnings per share. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. On average, equities analysts predict that Customers Bancorp, Inc. will post 6.85 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.