Russell Investments Group Ltd. Has $6.43 Million Position in Customers Bancorp, Inc. (NYSE:CUBI)

Russell Investments Group Ltd. trimmed its position in Customers Bancorp, Inc. (NYSE:CUBI) by 9.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,643 shares of the bank’s stock after selling 11,437 shares during the quarter. Russell Investments Group Ltd. owned 0.36% of Customers Bancorp worth $6,433,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its stake in Customers Bancorp by 14.7% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,796 shares of the bank’s stock worth $303,000 after purchasing an additional 1,125 shares in the last quarter. GAMMA Investing LLC acquired a new position in shares of Customers Bancorp in the fourth quarter valued at approximately $78,000. Yousif Capital Management LLC increased its stake in shares of Customers Bancorp by 11.3% in the fourth quarter. Yousif Capital Management LLC now owns 15,582 shares of the bank’s stock valued at $898,000 after buying an additional 1,580 shares during the period. Wakefield Asset Management LLLP raised its holdings in Customers Bancorp by 9.3% in the 4th quarter. Wakefield Asset Management LLLP now owns 21,920 shares of the bank’s stock valued at $1,263,000 after buying an additional 1,859 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its position in Customers Bancorp by 58.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 5,455 shares of the bank’s stock worth $322,000 after buying an additional 2,004 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Glenn Hedde sold 666 shares of the company’s 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 in the company, valued at $3,762,997.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 6.92% of the stock is owned by insiders.

Customers Bancorp Price Performance

CUBI opened at $47.88 on Thursday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93. The stock has a market capitalization of $1.51 billion, a PE ratio of 6.69 and a beta of 1.67. The stock’s 50 day moving average price is $50.51 and its 200-day moving average price is $49.89. Customers Bancorp, Inc. has a 52-week low of $16.41 and a 52-week high of $60.09.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on CUBI shares. B. Riley upped their target price on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Raymond James lifted 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. Wedbush reduced their price objective on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Hovde Group decreased their target price on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Finally, Jefferies Financial Group boosted their target price on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. Two investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $61.50.

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.