Semanteon Capital Management LP Invests $1.14 Million in Customers Bancorp, Inc. (NYSE:CUBI)

Semanteon Capital Management LP purchased a new position in Customers Bancorp, Inc. (NYSE:CUBI) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 19,701 shares of the bank’s stock, valued at approximately $1,135,000.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP lifted its position in Customers Bancorp by 28.7% during the third quarter. Wellington Management Group LLP now owns 2,132,205 shares of the bank’s stock valued at $73,454,000 after acquiring an additional 475,907 shares during the last quarter. Federated Hermes Inc. lifted its position in Customers Bancorp by 3,784.1% during the fourth quarter. Federated Hermes Inc. now owns 138,196 shares of the bank’s stock valued at $7,963,000 after acquiring an additional 134,638 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Customers Bancorp by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock valued at $10,554,000 after acquiring an additional 91,311 shares during the last quarter. Quantedge Capital Pte Ltd purchased a new stake in Customers Bancorp during the third quarter valued at approximately $2,181,000. Finally, Victory Capital Management Inc. purchased a new stake in Customers Bancorp during the third quarter valued at approximately $1,712,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

CUBI stock traded down $0.54 during midday trading on Thursday, hitting $49.53. 284,162 shares of the stock traded hands, compared to its average volume of 288,183. The firm has a market cap of $1.56 billion, a P/E ratio of 6.78 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. The stock’s fifty day simple moving average is $51.63 and its 200-day simple moving average is $48.89. Customers Bancorp, Inc. has a 1-year low of $15.80 and a 1-year high of $60.09.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. The company had revenue of $191.18 million for the quarter, compared to analyst estimates of $187.87 million. On average, analysts expect that Customers Bancorp, Inc. will post 6.85 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wedbush decreased their price target on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, January 26th. B. Riley increased their price objective on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Jefferies Financial Group increased their price objective on shares of Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Raymond James raised their price target on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, January 29th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.86.

Insider Activity

In other news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following 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 SEC, which can be accessed through the SEC website. In other news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following 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 SEC, which can be accessed through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares in the company, 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 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.