Los Angeles Capital Management LLC Takes $294,000 Position in Customers Bancorp, Inc. (NYSE:CUBI)

Los Angeles Capital Management LLC acquired a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,321 shares of the bank’s stock, valued at approximately $294,000.

Other institutional investors have also recently made changes to their positions in the company. Ridgewood Investments LLC purchased a new stake in Customers Bancorp in the second quarter worth $48,000. GAMMA Investing LLC lifted its stake in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares during the period. Innealta Capital LLC purchased a new stake in Customers Bancorp in the second quarter worth $74,000. CWM LLC lifted its stake in Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Customers Bancorp in the second quarter worth $151,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total transaction of $47,067.80. Following the completion of the sale, the chief executive officer now directly owns 1,189,738 shares in the company, valued at $65,114,360.74. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total value of $268,507.36. Following the sale, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,440 shares of company stock worth $5,210,695 in the last three months. 6.92% of the stock is currently owned by company insiders.

Customers Bancorp Price Performance

NYSE CUBI opened at $54.87 on Monday. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The stock has a 50-day moving average of $47.84 and a 200 day moving average of $49.31. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 8.91 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same quarter in the previous year, the business posted $2.59 earnings per share. Customers Bancorp’s quarterly revenue was down 23.2% compared to the same quarter last year. On average, sell-side analysts forecast that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CUBI shares. Keefe, Bruyette & Woods lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $57.00 to $52.00 in a research report on Monday, November 4th. DA Davidson raised their price objective on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Friday, August 9th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, Stephens raised their price objective on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and an average price target of $61.11.

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.