Customers Bancorp, Inc. (NYSE:CUBI) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,412 shares of the bank’s stock after purchasing an additional 1,066 shares during the quarter. Sanctuary Advisors LLC’s holdings in Customers Bancorp were worth $437,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Basswood Capital Management L.L.C. purchased a new position in shares of Customers Bancorp in the 3rd quarter worth $26,000. GAMMA Investing LLC increased its stake in Customers Bancorp by 21.7% during 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 during the last quarter. Innealta Capital LLC purchased a new position in shares of Customers Bancorp in the 2nd quarter worth about $74,000. Quest Partners LLC lifted its stake in shares of Customers Bancorp by 143.4% in 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. Finally, Point72 DIFC Ltd purchased a new stake in shares of Customers Bancorp during the 3rd quarter worth about $84,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Raymond James reduced their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. B. Riley increased 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. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. 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.com, Customers Bancorp has an average rating of “Moderate Buy” and an average price target of $62.22.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 86,578 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The stock was 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 approximately $61,662,410.92. The trade was a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now owns 66,256 shares in the company, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock worth $5,425,815 in the last ninety days. 6.92% of the stock is owned by insiders.

Customers Bancorp Trading Up 1.2 %

Shares of CUBI opened at $49.22 on Friday. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The stock has a 50-day moving average price of $51.58 and a 200 day moving average price of $50.63. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The company has a market capitalization of $1.54 billion, a P/E ratio of 7.99 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). The business had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business’s quarterly revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.59 earnings per share. Sell-side analysts forecast that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal 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.