Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co trimmed its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 15.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,099 shares of the bank's stock after selling 6,749 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.12% of Customers Bancorp worth $1,805,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Picton Mahoney Asset Management boosted its stake in shares of Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after buying an additional 189 shares during the period. Summit Investment Advisors Inc. raised its stake in Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after acquiring an additional 254 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Customers Bancorp by 3.2% during the 4th quarter. Sanctuary Advisors LLC now owns 9,714 shares of the bank's stock worth $473,000 after acquiring an additional 302 shares during the period. SG Americas Securities LLC grew its stake in shares of Customers Bancorp by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 5,579 shares of the bank's stock valued at $272,000 after purchasing an additional 333 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Customers Bancorp by 1.0% in the fourth quarter. Swiss National Bank now owns 59,200 shares of the bank's stock valued at $2,882,000 after purchasing an additional 600 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CUBI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research report on Monday. DA Davidson lifted their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Stephens reissued an "equal weight" rating and set a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Finally, Maxim Group lifted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Customers Bancorp presently has an average rating of "Moderate Buy" and a consensus price target of $63.80.

Insider Buying and Selling at Customers Bancorp

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 transaction, the chief executive officer now owns 965,723 shares of the company's stock, valued at $54,872,380.86. This represents a 6.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 6.92% of the stock is owned by insiders.

Customers Bancorp Price Performance

Shares of CUBI stock traded up $1.49 during trading hours on Friday, hitting $51.62. The company's stock had a trading volume of 33,528 shares, compared to its average volume of 365,461. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a twelve month low of $40.75 and a twelve month high of $68.49. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 10.14 and a beta of 1.47. The business has a fifty day moving average of $48.93 and a 200-day moving average of $50.94.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping 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%. The company had revenue of $194.28 million during the quarter, compared to the consensus estimate of $165.24 million. During the same quarter last year, the business posted $1.68 earnings per share. As a group, equities research analysts anticipate that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

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.