Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC boosted its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 167.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,339 shares of the bank's stock after purchasing an additional 5,845 shares during the quarter. Tower Research Capital LLC TRC's holdings in Customers Bancorp were worth $455,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CUBI. Heartland Advisors Inc. acquired a new position in Customers Bancorp during the fourth quarter worth about $7,672,000. JPMorgan Chase & Co. grew its holdings in shares of Customers Bancorp by 33.1% during the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank's stock worth $20,912,000 after purchasing an additional 106,895 shares during the period. Gator Capital Management LLC increased its position in shares of Customers Bancorp by 135.0% during the fourth quarter. Gator Capital Management LLC now owns 178,801 shares of the bank's stock valued at $8,704,000 after acquiring an additional 102,701 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Customers Bancorp by 46.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank's stock valued at $13,621,000 after purchasing an additional 90,451 shares during the period. Finally, First Eagle Investment Management LLC acquired a new position in Customers Bancorp during the 4th quarter worth about $3,379,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CUBI. Maxim Group boosted their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods cut their target price on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research report on Monday, April 28th. Stephens reaffirmed an "equal weight" rating and set a $58.00 price objective on shares of Customers Bancorp in a research note on Friday, January 24th. Finally, DA Davidson raised their price target on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $63.80.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the business's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the transaction, the chief executive officer now owns 965,723 shares in the company, valued at $54,872,380.86. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.92% of the stock is currently owned by insiders.

Customers Bancorp Trading Down 0.5 %

Shares of NYSE CUBI traded down $0.28 during midday trading on Monday, reaching $51.25. 27,708 shares of the stock were exchanged, compared to its average volume of 365,275. The stock has a 50 day moving average price of $48.89 and a 200-day moving average price of $51.01. 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 market capitalization of $1.61 billion, a P/E ratio of 10.10 and a beta of 1.51. Customers Bancorp, Inc. has a 52-week low of $40.75 and a 52-week high of $68.49.

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

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.