Allspring Global Investments Holdings LLC Sells 38,296 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Allspring Global Investments Holdings LLC lessened its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,800 shares of the bank’s stock after selling 38,296 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.82% of Customers Bancorp worth $14,682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CUBI. BluePath Capital Management LLC bought a new stake in Customers Bancorp during the third quarter valued at about $31,000. Gyon Technologies Capital Management LP purchased a new stake in shares of Customers Bancorp during the fourth quarter valued at about $38,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Customers Bancorp during the second quarter valued at about $56,000. Tower Research Capital LLC TRC boosted its holdings in shares of Customers Bancorp by 129.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after buying an additional 1,253 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in shares of Customers Bancorp in the 3rd quarter worth approximately $87,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Customers Bancorp Stock Down 4.9 %

Customers Bancorp stock opened at $46.62 on Tuesday. The business’s 50-day simple moving average is $52.07 and its two-hundred day simple moving average is $48.26. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. The company has a market cap of $1.47 billion, a PE ratio of 6.38 and a beta of 1.67. Customers Bancorp, Inc. has a fifty-two week low of $15.80 and a fifty-two week high of $60.09.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.14. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The firm had revenue of $191.18 million during the quarter, compared to the consensus estimate of $187.87 million. Equities analysts anticipate that Customers Bancorp, Inc. will post 6.87 EPS for the current year.

Insider Activity

In related news, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the sale, 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. Also, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following the transaction, the insider now owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The disclosure for this sale can be found here. 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.