Sterling Capital Management LLC Sells 10,311 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Sterling Capital Management LLC trimmed its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 91.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 948 shares of the bank’s stock after selling 10,311 shares during the quarter. Sterling Capital Management LLC’s holdings in Customers Bancorp were worth $46,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Picton Mahoney Asset Management boosted its holdings in shares of Customers Bancorp by 47.7% during 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 last quarter. R Squared Ltd purchased a new stake in Customers Bancorp in the fourth quarter worth approximately $42,000. KBC Group NV boosted its holdings in Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after purchasing an additional 677 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Customers Bancorp by 323.5% during the 4th 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, SG Americas Securities LLC lifted its holdings in shares of Customers Bancorp by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock valued at $272,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Transactions at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 33,173 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the sale, the chief executive officer now directly owns 1,032,723 shares of the company’s stock, valued at $59,123,391.75. This represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the transaction, the insider now owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is currently owned by corporate insiders.

Customers Bancorp Trading Up 4.0 %

Shares of CUBI stock opened at $50.39 on Friday. The stock has a fifty day simple moving average of $49.45 and a two-hundred day simple moving average of $50.81. Customers Bancorp, Inc. has a 52-week low of $40.75 and a 52-week high of $68.49. The firm has a market capitalization of $1.59 billion, a PE ratio of 9.92 and a beta of 1.47. 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 issued its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. On average, analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CUBI has been the subject of several research analyst reports. Stephens reaffirmed 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 research note on Monday, January 27th. Maxim Group raised their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Six equities research 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 stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Customers Bancorp Company 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.