KLP Kapitalforvaltning AS Acquires Shares of 16,200 Customers Bancorp, Inc. (NYSE:CUBI)

KLP Kapitalforvaltning AS acquired a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 16,200 shares of the bank’s stock, valued at approximately $789,000. KLP Kapitalforvaltning AS owned approximately 0.05% of Customers Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Customers Bancorp in the fourth quarter worth about $1,277,000. BNP Paribas Financial Markets grew its position in shares of Customers Bancorp by 117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock worth $1,878,000 after acquiring an additional 21,871 shares in the last quarter. Walleye Capital LLC increased its holdings in shares of Customers Bancorp by 536.3% in the 3rd quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock valued at $1,786,000 after acquiring an additional 32,407 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Customers Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after acquiring an additional 12,000 shares in the last quarter. Finally, Barclays PLC lifted its stake in Customers Bancorp by 46.9% during the third quarter. Barclays PLC now owns 89,879 shares of the bank’s stock worth $4,175,000 after purchasing an additional 28,683 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

CUBI has been the subject of several recent research reports. Stephens reiterated an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a research note on Friday, January 24th. Maxim Group increased their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. DA Davidson lifted their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased 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. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Trading Up 0.2 %

NYSE:CUBI opened at $50.24 on Tuesday. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 9.89 and a beta of 1.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49. The business has a fifty day moving average of $53.60 and a 200-day moving average of $50.99.

Customers Bancorp (NYSE:CUBI) last announced its 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 net margin of 13.07% and a return on equity of 12.29%. Equities analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the completion of the sale, the chief executive officer now directly owns 965,723 shares of the company’s stock, valued at $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $921,223.75. Following the sale, the insider now owns 55,211 shares of the company’s stock, valued at $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. 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 quarter. Corporate insiders own 6.92% of the company’s stock.

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.