Sei Investments Co. Reduces Position in Customers Bancorp, Inc. (NYSE:CUBI)

Sei Investments Co. lowered its position in Customers Bancorp, Inc. (NYSE:CUBI) by 30.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,639 shares of the bank’s stock after selling 46,185 shares during the quarter. Sei Investments Co.’s holdings in Customers Bancorp were worth $5,045,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Picton Mahoney Asset Management increased its holdings in shares of Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after acquiring an additional 189 shares during the period. R Squared Ltd purchased a new position in Customers Bancorp during the 4th quarter worth $42,000. KBC Group NV increased its stake in Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares during the period. Smartleaf Asset Management LLC raised its holdings in shares of Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after buying an additional 1,255 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Customers Bancorp during the third quarter worth about $84,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CUBI. Stephens restated an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson increased their price target on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Finally, Maxim Group lifted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Insider Activity

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the sale, the chief executive officer now owns 965,723 shares in the company, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Glenn Hedde sold 15,815 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 55,211 shares of the company’s stock, valued at $3,216,040.75. The trade was a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,988 shares of company stock worth $6,627,318 over the last 90 days. 6.92% of the stock is currently owned by corporate insiders.

Customers Bancorp Trading Up 1.0 %

Shares of CUBI opened at $50.72 on Wednesday. The firm’s 50-day moving average is $53.60 and its two-hundred day moving average is $51.00. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The firm has a market capitalization of $1.60 billion, a P/E ratio of 9.98 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating 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%. On average, research analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

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.