Healthcare of Ontario Pension Plan Trust Fund Decreases Stock Position in Customers Bancorp, Inc $CUBI

Healthcare of Ontario Pension Plan Trust Fund trimmed its position in shares of Customers Bancorp, Inc (NYSE:CUBI) by 91.0% in the 1st quarter, Holdings Channel reports. The institutional investor owned 4,607 shares of the bank’s stock after selling 46,611 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Customers Bancorp were worth $320,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Lido Advisors LLC boosted its stake in shares of Customers Bancorp by 3.0% during the 4th quarter. Lido Advisors LLC now owns 6,135 shares of the bank’s stock worth $412,000 after purchasing an additional 178 shares during the period. Alliancebernstein L.P. boosted its holdings in Customers Bancorp by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock valued at $2,226,000 after acquiring an additional 182 shares during the period. MetLife Investment Management LLC grew its position in Customers Bancorp by 1.3% in the 4th quarter. MetLife Investment Management LLC now owns 17,625 shares of the bank’s stock valued at $1,289,000 after acquiring an additional 230 shares during the last quarter. Bessemer Group Inc. grew its position in Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after acquiring an additional 232 shares during the last quarter. Finally, Arax Advisory Partners increased its stake in Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after purchasing an additional 243 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CUBI. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Morgan Stanley raised their price target on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Fundamental Research set a $94.00 price objective on shares of Customers Bancorp in a report on Wednesday, July 1st. JPMorgan Chase & Co. upped their target price on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, Hovde Group raised their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.15.

Insider Activity

In related news, CEO Samvir S. Sidhu bought 1,000 shares of the stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the acquisition, the chief executive officer directly owned 521,714 shares in the company, valued at approximately $37,866,002.12. This represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Philip Watkins sold 3,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $75.67, for a total value of $227,010.00. Following the sale, the executive vice president directly owned 43,993 shares in the company, valued at $3,328,950.31. This trade represents a 6.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 94,494 shares of company stock worth $7,294,032. Corporate insiders own 10.45% of the company’s stock.

Customers Bancorp Stock Performance

CUBI stock opened at $78.61 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average price of $76.83 and a 200 day moving average price of $74.53. The company has a market capitalization of $2.66 billion, a P/E ratio of 9.59 and a beta of 1.48. Customers Bancorp, Inc has a 1-year low of $59.34 and a 1-year high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. The company had revenue of $227.28 million during the quarter, compared to analyst estimates of $229.24 million. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.80 earnings per share. As a group, equities research analysts forecast that Customers Bancorp, Inc will post 8.43 EPS for the current fiscal year.

Customers Bancorp Company Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid?market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset?based lending and treasury management services.