Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 33.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 429,572 shares of the bank’s stock after purchasing an additional 106,895 shares during the quarter. JPMorgan Chase & Co. owned 1.37% of Customers Bancorp worth $20,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. WINTON GROUP Ltd grew its position in shares of Customers Bancorp by 8.1% during the fourth quarter. WINTON GROUP Ltd now owns 23,807 shares of the bank’s stock worth $1,159,000 after buying an additional 1,789 shares in the last quarter. Tieton Capital Management LLC grew its holdings in Customers Bancorp by 22.9% during the 4th quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank’s stock worth $14,135,000 after acquiring an additional 54,170 shares in the last quarter. Harbor Advisors LLC increased its position in shares of Customers Bancorp by 33.2% in the 4th quarter. Harbor Advisors LLC now owns 44,450 shares of the bank’s stock worth $2,164,000 after purchasing an additional 11,075 shares during the last quarter. Fox Run Management L.L.C. acquired a new stake in shares of Customers Bancorp in the 4th quarter valued at about $548,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Customers Bancorp during the fourth quarter worth about $789,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Customers Bancorp

In related news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction dated Thursday, January 30th. The shares were 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 owns 55,211 shares in the company, valued at $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 available at this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the business’s stock in a transaction dated 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 $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock worth $6,627,318 in the last three months. 6.92% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CUBI has been the subject of several research analyst reports. Stephens reissued an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th. DA Davidson boosted their price target on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, Maxim Group boosted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Stock Down 7.5 %

Customers Bancorp stock opened at $43.77 on Friday. 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, Inc. has a one year low of $40.75 and a one year high of $68.49. The company has a 50-day simple moving average of $51.72 and a 200-day simple moving average of $50.79. The firm has a market capitalization of $1.38 billion, a P/E ratio of 8.62 and a beta of 1.47.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, equities analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current 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.