Quantbot Technologies LP Increases Position in Customers Bancorp, Inc. (NYSE:CUBI)

Quantbot Technologies LP lifted its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 94.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,036 shares of the bank’s stock after purchasing an additional 30,573 shares during the period. Quantbot Technologies LP owned about 0.20% of Customers Bancorp worth $2,928,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. lifted its holdings in Customers Bancorp by 16.4% during the 3rd quarter. Citigroup Inc. now owns 107,596 shares of the bank’s stock worth $4,998,000 after buying an additional 15,161 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 worth $23,665,000 after acquiring an additional 12,000 shares in the last quarter. Intech Investment Management LLC lifted its stake in Customers Bancorp by 74.2% during the third quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock worth $1,177,000 after purchasing an additional 10,797 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Customers Bancorp by 176.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,965 shares of the bank’s stock worth $927,000 after purchasing an additional 12,739 shares during the last quarter. Finally, Quest Partners LLC boosted its holdings in Customers Bancorp by 143.4% in the third 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. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, Director Robert Neil Mackay sold 4,000 shares of the firm’s 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 sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now owns 66,256 shares of the company’s stock, valued at $3,556,622.08. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,440 shares of company stock worth $5,425,815 over the last ninety days. 6.92% of the stock is currently owned by company insiders.

Customers Bancorp Trading Up 0.5 %

NYSE:CUBI opened at $56.84 on Thursday. 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 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $48.82 and its 200-day simple moving average is $49.67. The firm has a market cap of $1.78 billion, a P/E ratio of 9.23 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 period in the prior year, the firm posted $2.59 earnings per share. The business’s quarterly revenue was down 23.2% compared to the same quarter last year. Equities analysts anticipate that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on CUBI shares. Stephens raised their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Piper Sandler reduced their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Friday, August 9th. Finally, B. Riley upped their target price on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $61.11.

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.