Arcus Capital Partners LLC Cuts Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Arcus Capital Partners LLC trimmed its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 61.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,178 shares of the bank’s stock after selling 5,143 shares during the quarter. Arcus Capital Partners LLC’s holdings in Customers Bancorp were worth $183,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in shares of Customers Bancorp by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock worth $10,554,000 after purchasing an additional 91,311 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Customers Bancorp in the 3rd quarter valued at about $1,712,000. Numerai GP LLC acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth about $363,000. American Century Companies Inc. lifted its stake in Customers Bancorp by 14.6% during the third quarter. American Century Companies Inc. now owns 364,767 shares of the bank’s stock worth $12,566,000 after purchasing an additional 46,347 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in Customers Bancorp by 101.5% during the third quarter. Quantbot Technologies LP now owns 25,482 shares of the bank’s stock worth $878,000 after purchasing an additional 12,836 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CUBI. Raymond James increased their target price 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. Wedbush cut their target price on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, January 26th. Finally, B. Riley upped 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. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and an average price target of $57.00.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $49.96 on Friday. Customers Bancorp, Inc. has a one year low of $15.80 and a one year high of $60.09. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 6.83 and a beta of 1.67. The company has a 50-day simple moving average of $52.59 and a 200-day simple moving average of $47.19. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, beating the consensus estimate of $1.76 by $0.14. The firm had revenue of $191.18 million during the quarter, compared to the consensus estimate of $187.87 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. On average, analysts predict that Customers Bancorp, Inc. will post 6.99 EPS for the current year.

Insider Activity

In related news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction that occurred on 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 directly owns 69,428 shares in the company, valued at $3,762,997.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction dated 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp 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 owns 41,224 shares of the company’s stock, valued at $2,191,055.60. 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.