Customers Bancorp, Inc $CUBI Shares Sold by LSV Asset Management

LSV Asset Management cut its stake in Customers Bancorp, Inc (NYSE:CUBI) by 18.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,500 shares of the bank’s stock after selling 40,300 shares during the quarter. LSV Asset Management’s holdings in Customers Bancorp were worth $10,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Teacher Retirement System of Texas grew its stake in shares of Customers Bancorp by 4.2% in the second quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank’s stock valued at $267,000 after buying an additional 185 shares in the last quarter. EP Wealth Advisors LLC boosted its holdings in Customers Bancorp by 5.3% in the 1st quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank’s stock worth $222,000 after acquiring an additional 223 shares during the period. Concurrent Investment Advisors LLC grew its position in Customers Bancorp by 4.6% in the second quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock valued at $327,000 after acquiring an additional 243 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its position in Customers Bancorp by 8.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 6,872 shares of the bank’s stock valued at $404,000 after acquiring an additional 548 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in shares of Customers Bancorp by 11.5% during the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after purchasing an additional 553 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Price Performance

CUBI opened at $65.02 on Thursday. The company has a market capitalization of $2.22 billion, a P/E ratio of 13.19 and a beta of 1.64. The company has a 50-day moving average of $66.19 and a 200-day moving average of $62.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $72.51.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Monday, September 8th. The bank reported $1.80 EPS for the quarter. The business had revenue of $206.82 million for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. Equities analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 24,784 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $68.05, for a total transaction of $1,686,551.20. Following the sale, the chief executive officer directly owned 928,217 shares of the company’s stock, valued at approximately $63,165,166.85. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bernard Bennett Banks sold 9,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the transaction, the director owned 7,524 shares in the company, valued at $503,581.32. This trade represents a 54.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 73,336 shares of company stock worth $4,983,184. 8.69% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on CUBI shares. TD Cowen upped their target price on shares of Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 27th. B. Riley reiterated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Cowen restated a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. Stephens boosted their price target on Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Finally, Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $82.88.

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.