Tower Research Capital LLC TRC Acquires 5,845 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Tower Research Capital LLC TRC boosted its stake 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 SEC. The institutional investor owned 9,339 shares of the bank's stock after purchasing an additional 5,845 shares during the period. 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 large investors have also recently added to or reduced their stakes in the stock. Barclays PLC raised its holdings in shares of Customers Bancorp by 46.9% during the 3rd quarter. Barclays PLC now owns 89,879 shares of the bank's stock valued at $4,175,000 after purchasing an additional 28,683 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Customers Bancorp by 3.4% in the third quarter. Franklin Resources Inc. now owns 62,515 shares of the bank's stock worth $3,011,000 after buying an additional 2,060 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Customers Bancorp during the 4th quarter worth about $1,314,000. SG Americas Securities LLC increased its holdings in shares of Customers Bancorp by 6.3% during 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 last quarter. Finally, Exchange Traded Concepts LLC raised its stake in shares of Customers Bancorp by 5.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 21,085 shares of the bank's stock valued at $1,026,000 after acquiring an additional 1,108 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Stock Performance

CUBI traded up $1.36 during trading on Friday, reaching $51.49. 144,501 shares of the company's stock were exchanged, compared to its average volume of 366,614. The company has a market capitalization of $1.62 billion, a P/E ratio of 10.14 and a beta of 1.51. 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 business has a 50 day moving average price of $48.89 and a 200 day moving average price of $50.98. Customers Bancorp, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results 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. The business had revenue of $194.28 million for the quarter, compared to analysts' expectations of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. During the same quarter in the previous year, the firm posted $1.68 earnings per share. As a group, analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Activity

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the company'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 sale, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.92% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Stephens reissued an "equal weight" rating and issued a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson boosted their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Maxim Group raised their price target 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 dropped their price objective on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating on the stock in a research note on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $63.80.

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.