Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 4.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 27,910 shares of the bank’s stock after selling 1,315 shares during the period. Janus Henderson Group PLC’s holdings in Customers Bancorp were worth $1,296,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of CUBI. Basswood Capital Management L.L.C. bought a new stake in Customers Bancorp in the third quarter valued at $26,000. Ridgewood Investments LLC bought a new position in shares of Customers Bancorp in the second quarter valued at approximately $48,000. GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the period. Innealta Capital LLC acquired a new stake in Customers Bancorp in the 2nd quarter valued at about $74,000. Finally, Quest Partners LLC boosted its position in shares of Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CUBI has been the subject of a number of recent analyst reports. Raymond James decreased their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Stephens increased their target price on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. B. Riley lifted their price target on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Piper Sandler lowered their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Wedbush downgraded shares of 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. Six 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.22.

Insider Transactions at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total transaction of $47,067.80. Following the transaction, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at $65,114,360.74. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Neil Mackay sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the transaction, the director now owns 4,567 shares in the company, valued at approximately $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,440 shares of company stock valued at $5,425,815. 6.92% of the stock is owned by insiders.

Customers Bancorp Stock Up 0.9 %

Shares of CUBI opened at $53.51 on Friday. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49. The firm has a market capitalization of $1.68 billion, a P/E ratio of 8.69 and a beta of 1.65. The company has a 50-day simple moving average of $51.14 and a 200-day simple moving average of $50.31. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same period in the previous year, the firm posted $2.59 earnings per share. The firm’s revenue for the quarter was down 23.2% compared to the same quarter last year. On average, equities research analysts expect that Customers Bancorp, Inc. will post 5.63 earnings per share for the current 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.