Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 8.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,515 shares of the bank’s stock after selling 4,647 shares during the quarter. New York State Common Retirement Fund owned approximately 0.17% of Customers Bancorp worth $3,026,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BluePath Capital Management LLC acquired a new position in shares of Customers Bancorp during the 3rd quarter worth approximately $31,000. C M Bidwell & Associates Ltd. purchased a new position in Customers Bancorp during the third quarter worth approximately $112,000. Federated Hermes Inc. boosted its stake in Customers Bancorp by 29,550.0% during the third 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. Cookson Peirce & Co. Inc. purchased a new stake in Customers Bancorp in the 4th quarter valued at $234,000. Finally, Mackenzie Financial Corp acquired a new stake in shares of Customers Bancorp in the 4th quarter worth $238,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In other Customers Bancorp news, insider Glenn Hedde sold 666 shares of the stock in a transaction dated Tuesday, February 27th. The stock was 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 of the company’s stock, valued at approximately $3,762,997.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Carla A. Leibold sold 35,832 shares of the business’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 in the company, valued at $2,191,055.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now owns 69,428 shares in the company, valued at $3,762,997.60. The disclosure for this sale can be found here. 6.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CUBI has been the topic of several recent research reports. Raymond James boosted 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. Jefferies Financial Group lifted their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Wedbush lowered their price objective on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. B. Riley lifted their target price on Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Finally, Hovde Group lowered their price target on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $61.50.

Customers Bancorp Stock Performance

NYSE CUBI opened at $48.41 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market cap of $1.52 billion, a P/E ratio of 6.76 and a beta of 1.67. The stock has a 50-day moving average of $50.74 and a two-hundred day moving average of $49.80. Customers Bancorp, Inc. has a 1-year low of $16.41 and a 1-year high of $60.09.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Friday, April 26th. The bank reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. The firm had revenue of $181.62 million during the quarter, compared to analysts’ expectations of $183.48 million. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The business’s quarterly revenue was up 8.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.58 earnings per share. As a group, analysts anticipate that Customers Bancorp, Inc. will post 6.46 EPS for the current 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.