Franklin Resources Inc. Sells 479 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Franklin Resources Inc. decreased its position in Customers Bancorp, Inc. (NYSE:CUBI) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 62,036 shares of the bank’s stock after selling 479 shares during the quarter. Franklin Resources Inc. owned approximately 0.20% of Customers Bancorp worth $3,020,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Heartland Advisors Inc. bought a new position in shares of Customers Bancorp in the 4th quarter worth approximately $7,672,000. Pacific Ridge Capital Partners LLC increased its holdings in Customers Bancorp by 12.1% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 25,880 shares of the bank’s stock valued at $1,260,000 after buying an additional 2,797 shares during the last quarter. JPMorgan Chase & Co. raised its position in Customers Bancorp by 33.1% in the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock worth $20,912,000 after acquiring an additional 106,895 shares during the period. WINTON GROUP Ltd boosted its stake in shares of Customers Bancorp by 8.1% during the 4th quarter. WINTON GROUP Ltd now owns 23,807 shares of the bank’s stock worth $1,159,000 after acquiring an additional 1,789 shares during the last quarter. Finally, Tieton Capital Management LLC grew its position in shares of Customers Bancorp by 22.9% during the 4th quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank’s stock valued at $14,135,000 after acquiring an additional 54,170 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Customers Bancorp Stock Performance

Shares of NYSE CUBI opened at $43.87 on Friday. The company has a market cap of $1.38 billion, a P/E ratio of 8.64 and a beta of 1.47. Customers Bancorp, Inc. has a 52-week low of $40.75 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. The firm’s fifty day moving average is $51.45 and its two-hundred day moving average is $50.79.

Customers Bancorp (NYSE:CUBI) last issued its 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, analysts anticipate that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In other news, insider Glenn Hedde sold 15,815 shares of the business’s 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 sale, the insider now directly owns 55,211 shares in the company, valued at $3,216,040.75. The trade was a 22.27 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the completion of the transaction, the chief executive officer now directly owns 965,723 shares of the company’s stock, valued at approximately $54,872,380.86. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock valued at $6,627,318 in the last ninety days. Corporate insiders own 6.92% of the company’s stock.

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.