Hood River Capital Management LLC Raises Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Hood River Capital Management LLC increased its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 40.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,470,951 shares of the bank's stock after buying an additional 421,335 shares during the quarter. Hood River Capital Management LLC owned about 4.69% of Customers Bancorp worth $71,606,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management lifted its position in shares of Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after purchasing an additional 189 shares during the period. R Squared Ltd bought a new stake in Customers Bancorp during the 4th quarter valued at $42,000. KBC Group NV increased its holdings in shares of Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after acquiring an additional 677 shares during the period. Smartleaf Asset Management LLC raised its position in shares of Customers Bancorp by 323.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock worth $80,000 after acquiring an additional 1,255 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Trading Up 0.1 %

Shares of CUBI stock traded up $0.07 on Monday, hitting $48.92. The stock had a trading volume of 127,572 shares, compared to its average volume of 370,635. The company's 50 day moving average price is $49.29 and its 200-day moving average price is $50.92. Customers Bancorp, Inc. has a 1 year low of $40.75 and a 1 year high of $68.49. The firm has a market capitalization of $1.54 billion, a P/E ratio of 9.63 and a beta of 1.47. 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 - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.26. The company had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same quarter last year, the company earned $1.68 EPS. Analysts anticipate that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,988 shares of company stock valued at $6,627,318 over the last ninety days. Corporate insiders own 6.92% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on CUBI shares. Stephens reissued an "equal weight" rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Keefe, Bruyette & Woods dropped their price target on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research note on Monday. Maxim Group boosted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, 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 note 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.80.

About Customers Bancorp

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.