13,900 Shares in Customers Bancorp, Inc. (NYSE:CUBI) Purchased by Bailard Inc.

Bailard Inc. acquired a new position in Customers Bancorp, Inc. (NYSE:CUBI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 13,900 shares of the bank’s stock, valued at approximately $801,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new position in Customers Bancorp during the third quarter worth about $31,000. GAMMA Investing LLC bought a new position in Customers Bancorp during the fourth quarter worth about $78,000. Counterpoint Mutual Funds LLC bought a new position in Customers Bancorp during the third quarter worth about $87,000. C M Bidwell & Associates Ltd. bought a new position in Customers Bancorp during the third quarter worth about $112,000. Finally, Federated Hermes Inc. boosted its holdings 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. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CUBI has been the topic of a number of recent analyst reports. B. Riley raised their target price on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Jefferies Financial Group raised their target price on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, April 8th. Wedbush cut their price objective on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Raymond James lifted their price objective on Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th. Two analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $61.29.

Insider Activity at Customers Bancorp

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 owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the business’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 of the company’s stock, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 666 shares of the business’s 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 transaction, the insider now directly owns 69,428 shares in the company, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by insiders.

Customers Bancorp Trading Down 5.5 %

NYSE:CUBI opened at $46.82 on Friday. Customers Bancorp, Inc. has a fifty-two week low of $15.80 and a fifty-two week high of $60.09. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market capitalization of $1.47 billion, a PE ratio of 6.54 and a beta of 1.67. The business’s 50-day simple moving average is $51.53 and its 200-day simple moving average is $48.89.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. Customers Bancorp had a return on equity of 18.62% and a net margin of 16.88%. The business had revenue of $181.62 million for the quarter, compared to analyst estimates of $183.48 million. During the same quarter last year, the firm earned $1.58 EPS. Customers Bancorp’s revenue for the quarter was up 8.1% compared to the same quarter last year. Sell-side analysts expect that Customers Bancorp, Inc. will post 6.85 earnings per share for the current fiscal year.

Customers Bancorp 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.