Cornercap Investment Counsel Inc. Acquires Shares of 21,755 Customers Bancorp, Inc. (NYSE:CUBI)

Cornercap Investment Counsel Inc. purchased a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,755 shares of the bank's stock, valued at approximately $1,254,000. Cornercap Investment Counsel Inc. owned about 0.07% of Customers Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. BluePath Capital Management LLC acquired a new position in Customers Bancorp during the third quarter valued at approximately $31,000. Gyon Technologies Capital Management LP bought a new position in shares of Customers Bancorp during the 4th quarter worth approximately $38,000. Coppell Advisory Solutions LLC bought a new position in shares of Customers Bancorp during the 2nd quarter worth approximately $56,000. Tower Research Capital LLC TRC boosted its stake in shares of Customers Bancorp by 129.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank's stock worth $41,000 after acquiring an additional 1,253 shares during the period. Finally, Counterpoint Mutual Funds LLC bought a new position in shares of Customers Bancorp during the 3rd quarter worth approximately $87,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Price Performance

NYSE CUBI traded down $2.40 during midday trading on Monday, hitting $46.62. The company had a trading volume of 557,920 shares, compared to its average volume of 289,107. The company has a market capitalization of $1.47 billion, a PE ratio of 6.38 and a beta of 1.67. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. The firm has a 50-day moving average price of $52.07 and a 200-day moving average price of $48.26. Customers Bancorp, Inc. has a twelve month low of $15.80 and a twelve month high of $60.09.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.14. The firm had revenue of $191.18 million during the quarter, compared to analysts' expectations of $187.87 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. As a group, analysts anticipate that Customers Bancorp, Inc. will post 6.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other news, CFO Carla A. Leibold sold 35,832 shares of the business's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares of the company's stock, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Carla A. Leibold sold 35,832 shares of the business's stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares of the company's stock, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Glenn Hedde sold 666 shares of the business'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 transaction, the insider now directly owns 69,428 shares of the company's stock, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. Insiders own 9.40% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. 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 note on Monday, January 29th. Jefferies Financial Group lifted their target price on Customers Bancorp from $61.00 to $64.00 and gave the stock a "buy" rating in a research note on Monday, April 8th. Wedbush reduced their price target on Customers Bancorp from $70.00 to $65.00 and set an "outperform" rating for the company in a research note on Friday, January 26th. Finally, B. Riley boosted their price target on Customers Bancorp from $62.00 to $77.00 and gave the company a "buy" rating in a research note on Monday, January 29th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Customers Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $61.86.

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.