Raymond James Financial Services Advisors Inc. Has $2.83 Million Position in Customers Bancorp, Inc. (NYSE:CUBI)

Raymond James Financial Services Advisors Inc. boosted its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 458.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,083 shares of the bank's stock after purchasing an additional 40,287 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.16% of Customers Bancorp worth $2,828,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BluePath Capital Management LLC acquired a new position in shares of Customers Bancorp during the third quarter worth $31,000. Gyon Technologies Capital Management LP acquired a new stake in shares of Customers Bancorp during the 4th quarter worth about $38,000. Coppell Advisory Solutions LLC purchased a new stake in Customers Bancorp during the second quarter worth approximately $56,000. Tower Research Capital LLC TRC boosted its holdings in Customers Bancorp by 129.2% in the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank's stock valued at $41,000 after purchasing an additional 1,253 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC purchased a new position in Customers Bancorp in the third quarter valued at approximately $87,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Performance

CUBI traded down $0.92 on Tuesday, hitting $52.02. 168,345 shares of the company traded hands, compared to its average volume of 288,797. Customers Bancorp, Inc. has a 12-month low of $15.80 and a 12-month high of $60.09. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.92. The company has a 50 day moving average of $52.36 and a 200-day moving average of $47.80. The stock has a market capitalization of $1.64 billion, a PE ratio of 7.12 and a beta of 1.67.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.14. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. The business had revenue of $191.18 million for the quarter, compared to analyst estimates of $187.87 million. Sell-side analysts anticipate that Customers Bancorp, Inc. will post 6.93 earnings per share for the current year.

Wall Street Analyst Weigh In

CUBI has been the topic of a number of recent analyst reports. Wedbush dropped their target price on shares of Customers Bancorp from $70.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday, January 26th. Raymond James lifted their target price on Customers Bancorp from $65.00 to $72.00 and gave the stock a "strong-buy" rating in a research report on Monday, January 29th. Jefferies Financial Group upped their target price on Customers Bancorp from $61.00 to $64.00 and gave the company a "buy" rating in a research report on Monday. Finally, B. Riley lifted their price target on Customers Bancorp from $62.00 to $77.00 and gave the stock a "buy" rating in a research report on Monday, January 29th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $61.86.

Insiders Place Their Bets

In related news, insider Glenn Hedde sold 666 shares of the business's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total transaction of $36,097.20. Following the sale, the insider now owns 69,428 shares of the company's stock, valued at $3,762,997.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Customers Bancorp news, insider Glenn Hedde sold 666 shares of the company's stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the sale, the insider now owns 69,428 shares of the company's stock, valued at $3,762,997.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the transaction, the chief financial officer now directly owns 41,224 shares of the company's stock, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by company insiders.

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.