Victory Capital Management Inc. Decreases Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Victory Capital Management Inc. trimmed its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 77.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,386 shares of the bank’s stock after selling 18,420 shares during the period. Victory Capital Management Inc.’s holdings in Customers Bancorp were worth $262,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Sanctuary Advisors LLC raised its holdings in shares of Customers Bancorp by 3.2% during the 4th quarter. Sanctuary Advisors LLC now owns 9,714 shares of the bank’s stock valued at $473,000 after buying an additional 302 shares in the last quarter. SG Americas Securities LLC grew its position 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 acquiring an additional 333 shares during the last quarter. Basswood Capital Management L.L.C. bought a new position in Customers Bancorp during the 3rd quarter worth approximately $26,000. KBC Group NV grew its position 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 acquiring an additional 677 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in Customers Bancorp by 5.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 16,624 shares of the bank’s stock worth $809,000 after acquiring an additional 794 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Trading Up 0.7 %

Customers Bancorp stock opened at $51.59 on Friday. 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 business’s fifty day simple moving average is $53.22 and its two-hundred day simple moving average is $50.84. Customers Bancorp, Inc. has a 12 month low of $42.31 and a 12 month high of $68.49. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 10.16 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. As a group, equities analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on CUBI. Stephens restated an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. DA Davidson raised their price target on 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 lifted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Finally, StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Insider Activity

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now owns 965,723 shares of the company’s stock, valued at approximately $54,872,380.86. This 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 stock in a transaction dated 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 transaction, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. This 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 valued at $6,627,318 over the last ninety days. 6.92% of the stock is currently owned by corporate insiders.

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.