Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 11.1% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,616 shares of the bank’s stock after selling 7,296 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Customers Bancorp were worth $2,723,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CUBI. CWM LLC boosted its stake in shares of Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the period. GAMMA Investing LLC grew its stake in shares of 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 in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Customers Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock worth $686,000 after acquiring an additional 300 shares during the period. SummerHaven Investment Management LLC raised its stake in shares of Customers Bancorp by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after acquiring an additional 341 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Customers Bancorp by 10.4% in the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after purchasing an additional 549 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling at Customers Bancorp

In related news, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the transaction, the director now directly owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the sale, the chief executive officer now directly owns 1,090,598 shares in the company, valued at $61,662,410.92. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,440 shares of company stock valued at $5,425,815. 6.92% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CUBI has been the topic of a number of analyst reports. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. B. Riley boosted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Stephens upped their price objective on Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Finally, Piper Sandler lowered their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $62.22.

Customers Bancorp Stock Up 0.9 %

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 business has a 50 day moving average price of $51.14 and a two-hundred day moving average price of $50.35. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.68 billion, a PE ratio of 8.69 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 EPS 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 firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the previous year, the business earned $2.59 EPS. Customers Bancorp’s revenue for the quarter was down 23.2% on a year-over-year basis. As a group, research analysts anticipate that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

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.