Alliancebernstein L.P. Has $1.65 Million Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Alliancebernstein L.P. decreased its position in Customers Bancorp, Inc. (NYSE:CUBI) by 66.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,872 shares of the bank’s stock after selling 66,004 shares during the period. Alliancebernstein L.P.’s holdings in Customers Bancorp were worth $1,649,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. American Century Companies Inc. lifted its stake in Customers Bancorp by 5.9% in the 4th quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock worth $37,667,000 after acquiring an additional 42,965 shares in the last quarter. Geode Capital Management LLC grew its position in Customers Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after purchasing an additional 17,941 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Customers Bancorp by 33.1% in the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock worth $20,912,000 after buying an additional 106,895 shares in the last quarter. Tieton Capital Management LLC grew its holdings 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock worth $13,621,000 after acquiring an additional 90,451 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Up 0.7 %

CUBI stock opened at $45.39 on Friday. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.94 and a beta of 1.47. The company has a 50-day moving average of $50.44 and a two-hundred day moving average of $50.74. 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 current ratio of 0.96 and a quick ratio of 0.95.

Customers Bancorp (NYSE:CUBI) last announced its earnings results 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%. As a group, equities research analysts anticipate that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Insider Transactions at Customers Bancorp

In other news, insider Glenn Hedde sold 15,815 shares of the business’s stock in a transaction 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 sale, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay S. Sidhu sold 67,000 shares of the business’s 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 owns 965,723 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 115,988 shares of company stock worth $6,627,318. Insiders own 6.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CUBI shares. DA Davidson lifted 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. Maxim Group raised their price target 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. 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 report 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 report on Friday, January 24th. Six research 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. According to MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.