Raymond James Financial Inc. Acquires Shares of 52,244 Customers Bancorp, Inc. (NYSE:CUBI)

Raymond James Financial Inc. bought a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 52,244 shares of the bank's stock, valued at approximately $2,543,000. Raymond James Financial Inc. owned 0.17% of Customers Bancorp at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in CUBI. Picton Mahoney Asset Management boosted its position in Customers Bancorp by 47.7% during the fourth 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 acquired a new stake in shares of Customers Bancorp during the 4th quarter worth about $42,000. KBC Group NV boosted its holdings in shares of Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock worth $73,000 after buying an additional 677 shares during the period. Smartleaf Asset Management LLC grew its stake in Customers Bancorp by 323.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock valued at $80,000 after buying an additional 1,255 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in Customers Bancorp by 6.3% in the 4th quarter. SG Americas Securities LLC now owns 5,579 shares of the bank's stock valued at $272,000 after acquiring an additional 333 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now owns 965,723 shares of the company's stock, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the firm'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 transaction of $921,223.75. Following the transaction, the insider now owns 55,211 shares of the company's stock, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock worth $6,627,318 in the last 90 days. Insiders own 6.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on CUBI shares. DA Davidson boosted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Maxim Group boosted their price target on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and issued a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods dropped their target price on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating for the company in a report on Monday. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $63.80.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $50.74 on Wednesday. Customers Bancorp, Inc. has a 1-year low of $40.75 and a 1-year high of $68.49. The company has a market cap of $1.60 billion, a PE ratio of 9.99 and a beta of 1.47. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The company has a 50 day moving average of $49.05 and a 200-day moving average of $50.93.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.26. The company had revenue of $194.28 million during the quarter, compared to analysts' expectations 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 in the previous year, the firm earned $1.68 EPS. As a group, equities research analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

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.

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