Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC increased its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 167.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,339 shares of the bank’s stock after purchasing an additional 5,845 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Customers Bancorp were worth $455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of CUBI. MetLife Investment Management LLC raised its position in Customers Bancorp by 6.8% in the fourth quarter. MetLife Investment Management LLC now owns 18,023 shares of the bank’s stock valued at $877,000 after purchasing an additional 1,147 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Customers Bancorp in the 4th quarter valued at $1,752,000. Jump Financial LLC acquired a new position in Customers Bancorp during the 4th quarter worth about $1,810,000. Summit Investment Advisors Inc. boosted its holdings in Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank’s stock valued at $151,000 after acquiring an additional 254 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Customers Bancorp during the 4th quarter valued at about $2,543,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently issued reports on CUBI shares. Stephens reissued an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. Keefe, Bruyette & Woods decreased their price target on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday. Maxim Group upped 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. Finally, DA Davidson lifted their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.80.

Insider Transactions at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 67,000 shares of the firm’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 transaction of $3,806,940.00. Following the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction on 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 sale, the insider now owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 115,988 shares of company stock worth $6,627,318. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $50.74 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49. The firm’s 50 day moving average is $49.05 and its two-hundred day moving average is $50.93. The firm has a market capitalization of $1.60 billion, a P/E ratio of 9.99 and a beta of 1.47.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.26. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. The firm had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. During the same period last year, the firm posted $1.68 EPS. Research analysts forecast that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

About Customers Bancorp

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.