Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by KBC Group NV

KBC Group NV increased its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 82.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,495 shares of the bank’s stock after buying an additional 677 shares during the quarter. KBC Group NV’s holdings in Customers Bancorp were worth $73,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. State Street Corp grew its stake in Customers Bancorp by 10.5% during the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after purchasing an additional 169,982 shares in the last quarter. Geode Capital Management LLC grew its stake in Customers Bancorp by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after purchasing an additional 17,941 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in 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 purchasing an additional 12,000 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after purchasing an additional 225,785 shares in the last quarter. Finally, Citigroup Inc. grew its stake in Customers Bancorp by 16.4% during the 3rd quarter. Citigroup Inc. now owns 107,596 shares of the bank’s stock valued at $4,998,000 after purchasing an additional 15,161 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Activity

In other news, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction 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 transaction, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $215,120.00. Following the completion of the transaction, the director now owns 4,567 shares in the company, valued at $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,988 shares of company stock worth $6,842,438. 6.92% of the stock is owned by company insiders.

Customers Bancorp Trading Down 1.6 %

Shares of NYSE CUBI opened at $57.24 on Monday. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 11.27 and a beta of 1.68. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49. 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 stock’s 50 day simple moving average is $51.73 and its 200 day simple moving average is $50.79.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Equities research analysts expect that Customers Bancorp, Inc. will post 6.33 EPS for the current year.

Analysts Set New Price Targets

CUBI has been the topic of a number of research analyst reports. Stephens reaffirmed an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. B. Riley increased their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Maxim Group increased their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.