Customers Bancorp, Inc. (NYSE:CUBI) Stock Position Reduced by Prudential Financial Inc.

Prudential Financial Inc. lessened its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 21.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 143,293 shares of the bank’s stock after selling 38,710 shares during the quarter. Prudential Financial Inc. owned 0.46% of Customers Bancorp worth $6,976,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CUBI. Basswood Capital Management L.L.C. purchased a new stake in shares of Customers Bancorp during the third quarter worth $26,000. Picton Mahoney Asset Management raised its stake in shares of Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock worth $28,000 after purchasing an additional 189 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Customers Bancorp during the 4th quarter valued at about $42,000. KBC Group NV grew its stake in shares of Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after buying an additional 677 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after buying an additional 1,255 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

CUBI has been the subject of several recent research reports. Maxim Group boosted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Stephens reaffirmed an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Finally, DA Davidson boosted their target price on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Trading Down 3.3 %

Shares of Customers Bancorp stock opened at $50.17 on Monday. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49. The company’s fifty day simple moving average is $53.59 and its 200-day simple moving average is $50.97. The company has a market cap of $1.58 billion, a price-to-earnings ratio of 9.88 and a beta of 1.74. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, sell-side analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 33,173 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the completion of the transaction, the chief executive officer now owns 1,032,723 shares in the company, valued at $59,123,391.75. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Glenn Hedde sold 15,815 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the transaction, the insider now owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock worth $6,627,318 over the last three months. Company insiders own 6.92% of the company’s stock.

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.