Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by Raymond James & Associates

Raymond James & Associates boosted its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 223.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,248 shares of the bank's stock after purchasing an additional 20,892 shares during the quarter. Raymond James & Associates owned about 0.10% of Customers Bancorp worth $1,743,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in shares of Customers Bancorp during the 4th quarter worth approximately $404,000. Wellington Management Group LLP increased its position in shares of Customers Bancorp by 28.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,132,205 shares of the bank's stock valued at $73,454,000 after purchasing an additional 475,907 shares during the last quarter. American Century Companies Inc. increased its position in shares of Customers Bancorp by 14.6% during the 3rd quarter. American Century Companies Inc. now owns 364,767 shares of the bank's stock valued at $12,566,000 after purchasing an additional 46,347 shares during the last quarter. Walleye Capital LLC bought a new position in shares of Customers Bancorp during the 3rd quarter valued at approximately $820,000. Finally, Comerica Bank bought a new position in shares of Customers Bancorp during the 3rd quarter valued at approximately $509,000. Institutional investors own 89.29% of the company's stock.

Customers Bancorp Trading Up 0.9 %

Customers Bancorp stock traded up $0.41 during mid-day trading on Thursday, hitting $46.84. The company's stock had a trading volume of 219,873 shares, compared to its average volume of 287,126. The company has a 50 day moving average of $51.84 and a 200-day moving average of $48.32. The stock has a market cap of $1.47 billion, a PE ratio of 6.41 and a beta of 1.67. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp, Inc. has a one year low of $15.80 and a one year high of $60.09.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.14. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The business had revenue of $191.18 million during the quarter, compared to analysts' expectations of $187.87 million. On average, research analysts anticipate that Customers Bancorp, Inc. will post 6.85 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CUBI shares. 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 report on Friday, January 26th. Raymond James boosted their target price on Customers Bancorp from $65.00 to $72.00 and gave the company a "strong-buy" rating in a research report on Monday, January 29th. Jefferies Financial Group boosted 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, April 8th. Finally, B. Riley boosted their target price on Customers Bancorp from $62.00 to $77.00 and gave the company a "buy" rating in a research report on Monday, January 29th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $61.86.

Insiders Place Their Bets

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 completion of the sale, the insider now directly owns 69,428 shares in the company, valued at approximately $3,762,997.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Carla A. Leibold sold 35,832 shares of the company'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 sale, the chief financial officer now directly owns 41,224 shares in the company, valued at approximately $2,191,055.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 disclosure for this sale can be found here. Company insiders own 9.40% of the company's stock.

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.