Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC cut its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 38.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,370 shares of the bank's stock after selling 45,150 shares during the period. Renaissance Technologies LLC owned about 0.23% of Customers Bancorp worth $3,474,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CUBI. Picton Mahoney Asset Management lifted its holdings in Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after buying an additional 189 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Customers Bancorp by 3.2% during the 4th quarter. Sanctuary Advisors LLC now owns 9,714 shares of the bank's stock worth $473,000 after buying an additional 302 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Customers Bancorp by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 5,579 shares of the bank's stock worth $272,000 after buying an additional 333 shares during the last quarter. Swiss National Bank lifted its holdings in Customers Bancorp by 1.0% during the 4th quarter. Swiss National Bank now owns 59,200 shares of the bank's stock worth $2,882,000 after buying an additional 600 shares during the last quarter. Finally, KBC Group NV lifted its holdings in 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 last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CUBI has been the subject of a number of recent analyst reports. Stephens reaffirmed an "equal weight" rating and set a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. DA Davidson lifted their price target 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 upped their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods cut their price target on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research report on Monday. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Customers Bancorp has a consensus rating of "Moderate Buy" and an average price target of $63.80.

Customers Bancorp Stock Performance

NYSE:CUBI traded up $0.43 during midday trading on Monday, reaching $49.28. The stock had a trading volume of 278,075 shares, compared to its average volume of 371,186. The firm has a fifty day simple moving average of $49.15 and a two-hundred day simple moving average of $50.93. Customers Bancorp, Inc. has a 12-month low of $40.75 and a 12-month high of $68.49. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock has a market cap of $1.55 billion, a P/E ratio of 9.70 and a beta of 1.47.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, beating analysts' consensus estimates of $1.28 by $0.26. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. The firm had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. During the same period last year, the firm posted $1.68 EPS. On average, equities analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the firm's stock in a transaction on 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 trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now directly owns 55,211 shares of the company's stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock worth $6,627,318 in the last three months. Insiders own 6.92% 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.