Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Yousif Capital Management LLC

Yousif Capital Management LLC decreased its position in Customers Bancorp, Inc. (NYSE:CUBI) by 2.3% in the 4th quarter, Holdings Channel.com reports. The fund owned 11,067 shares of the bank’s stock after selling 257 shares during the period. Yousif Capital Management LLC’s holdings in Customers Bancorp were worth $539,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Basswood Capital Management L.L.C. acquired a new position in shares of Customers Bancorp in the 3rd quarter worth approximately $26,000. R Squared Ltd acquired a new position in shares of Customers Bancorp in the 4th quarter worth approximately $42,000. KBC Group NV grew its position in shares of Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after acquiring an additional 677 shares in the last quarter. Quest Partners LLC grew its position in shares of Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after acquiring an additional 962 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Customers Bancorp in the 3rd quarter worth approximately $84,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CUBI shares. Stephens restated an “equal weight” rating and set a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. Maxim Group boosted their price target on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. B. Riley boosted their price objective on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Piper Sandler dropped their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Customers Bancorp Stock Performance

CUBI opened at $56.94 on Monday. The company has a market cap of $1.79 billion, a PE ratio of 11.21 and a beta of 1.68. The stock has a 50-day moving average of $51.89 and a 200-day moving average of $50.52. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. 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 (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. As a group, equities research analysts forecast that Customers Bancorp, Inc. will post 6.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the transaction, the insider now directly owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the transaction, the director now directly owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 119,988 shares of company stock valued at $6,842,438. 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.