Martingale Asset Management L P Sells 24,116 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Martingale Asset Management L P decreased its holdings in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 78.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,614 shares of the bank's stock after selling 24,116 shares during the quarter. Martingale Asset Management L P's holdings in Customers Bancorp were worth $322,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CUBI. Gator Capital Management LLC increased its stake in shares of Customers Bancorp by 135.0% in the fourth quarter. Gator Capital Management LLC now owns 178,801 shares of the bank's stock valued at $8,704,000 after buying an additional 102,701 shares during the period. Envestnet Asset Management Inc. raised its holdings in Customers Bancorp by 20.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 17,777 shares of the bank's stock worth $865,000 after purchasing an additional 2,994 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Customers Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 17,424 shares of the bank's stock worth $848,000 after purchasing an additional 3,792 shares during the period. ExodusPoint Capital Management LP bought a new stake in shares of Customers Bancorp in the 4th quarter valued at $2,960,000. Finally, Heartland Advisors Inc. acquired a new stake in shares of Customers Bancorp during the fourth quarter worth $7,672,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Stock Up 0.7 %

Shares of NYSE CUBI traded up $0.29 during mid-day trading on Friday, reaching $45.39. 182,654 shares of the company's stock traded hands, compared to its average volume of 373,945. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The business has a 50-day simple moving average of $50.19 and a 200 day simple moving average of $50.75. The stock has a market cap of $1.43 billion, a P/E ratio of 8.94 and a beta of 1.47. Customers Bancorp, Inc. has a 1-year low of $40.75 and a 1-year high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. On average, analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 33,173 shares of Customers Bancorp stock in a transaction 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 in the company, valued at $59,123,391.75. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the business's stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of the transaction, the insider now directly owns 55,211 shares in the company, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Stephens reiterated an "equal weight" rating and set a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Maxim Group boosted their price target on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, January 27th. DA Davidson raised their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. 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 stock. Based on data from MarketBeat, Customers Bancorp has an average 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.