Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 13.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 254,800 shares of the bank's stock after selling 38,296 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.82% of Customers Bancorp worth $14,682,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. BluePath Capital Management LLC bought a new position in Customers Bancorp during the 3rd quarter valued at approximately $31,000. Gyon Technologies Capital Management LP bought a new position in shares of Customers Bancorp in the 4th quarter worth approximately $38,000. Tower Research Capital LLC TRC raised its position in shares of Customers Bancorp by 129.2% in 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 in the last quarter. Belpointe Asset Management LLC raised its position in shares of Customers Bancorp by 722.5% in the 1st quarter. Belpointe Asset Management LLC now owns 2,673 shares of the bank's stock worth $50,000 after acquiring an additional 2,348 shares in the last quarter. Finally, Coppell Advisory Solutions LLC bought a new position in shares of Customers Bancorp in the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Trading Down 0.7 %

CUBI traded down $0.30 on Tuesday, hitting $46.32. The company had a trading volume of 268,833 shares, compared to its average volume of 288,829. The company has a market cap of $1.46 billion, a PE ratio of 6.29 and a beta of 1.67. 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 business's fifty day simple moving average is $52.07 and its 200 day simple moving average is $48.26.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The bank reported $1.90 EPS for the quarter, topping the consensus estimate of $1.76 by $0.14. The company had revenue of $191.18 million during the quarter, compared to analyst estimates of $187.87 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. Equities research analysts expect that Customers Bancorp, Inc. will post 6.87 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the business's stock in a transaction that occurred 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 in the company, valued at $2,191,055.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares of the company's stock, valued at $2,191,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction that occurred on 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 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. Company insiders own 9.40% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on CUBI shares. Jefferies Financial Group increased their target price on Customers Bancorp from $61.00 to $64.00 and gave the stock a "buy" rating in a research report on Monday, April 8th. B. Riley upped their price target on Customers Bancorp from $62.00 to $77.00 and gave the stock a "buy" rating in a research note on Monday, January 29th. Wedbush cut their target price on Customers Bancorp from $70.00 to $65.00 and set an "outperform" rating on the stock in a research note on Friday, January 26th. Finally, Raymond James increased their target price on Customers Bancorp from $65.00 to $72.00 and gave the company a "strong-buy" rating in a research note on Monday, January 29th. Two 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $61.86.

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.