Heartland Advisors Inc. Purchases Shares of 157,600 Customers Bancorp, Inc. (NYSE:CUBI)

Heartland Advisors Inc. acquired a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 157,600 shares of the bank’s stock, valued at approximately $7,672,000. Heartland Advisors Inc. owned approximately 0.50% of Customers Bancorp at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Basswood Capital Management L.L.C. purchased a new position in Customers Bancorp in the 3rd quarter worth approximately $26,000. Picton Mahoney Asset Management grew its position in Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock worth $28,000 after acquiring an additional 189 shares in the last quarter. R Squared Ltd bought a new position in Customers Bancorp in the fourth quarter valued at $42,000. KBC Group NV raised its position in Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the sale, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,988 shares of company stock valued at $6,627,318 over the last three months. Corporate insiders own 6.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on CUBI. Maxim Group increased their price objective on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 27th. DA Davidson lifted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, Stephens restated an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Customers Bancorp Trading Down 3.3 %

CUBI opened at $50.17 on Friday. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.88 and a beta of 1.74. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The business has a 50 day simple moving average of $53.59 and a two-hundred day simple moving average of $50.94. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating 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%. Analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current 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.