Fox Run Management L.L.C. Purchases New Position in Customers Bancorp, Inc. (NYSE:CUBI)

Fox Run Management L.L.C. acquired a new stake in Customers Bancorp, Inc. (NYSE:CUBI) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 11,266 shares of the bank’s stock, valued at approximately $548,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of CUBI. State Street Corp boosted its holdings in shares of Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after acquiring an additional 169,982 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in Customers Bancorp by 46.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock worth $13,621,000 after purchasing an additional 90,451 shares during the period. First Eagle Investment Management LLC purchased a new position in Customers Bancorp during the 4th quarter valued at about $3,379,000. Raymond James Financial Inc. bought a new stake in shares of Customers Bancorp during the fourth quarter valued at about $2,543,000. Finally, American Century Companies Inc. lifted its holdings in shares of Customers Bancorp by 5.9% in the fourth quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock worth $37,667,000 after buying an additional 42,965 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $52.91 on Tuesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. The company has a fifty day moving average of $53.36 and a 200-day moving average of $50.88. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 10.41 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Equities research analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Stephens reaffirmed an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Maxim Group boosted their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, DA Davidson boosted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Insiders Place Their Bets

In related news, CEO Jay S. Sidhu sold 33,173 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $57.25, for a total value of $1,899,154.25. Following the sale, the chief executive officer now directly owns 1,032,723 shares of the company’s stock, valued at $59,123,391.75. This trade represents a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the transaction, the insider now directly owns 55,211 shares of the company’s stock, valued at $3,216,040.75. The trade was a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock valued at $6,627,318 in the last ninety days. Company insiders own 6.92% of the company’s stock.

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.