Crawford Fund Management LLC Sells 54,671 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Crawford Fund Management LLC cut its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 44.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 67,353 shares of the bank’s stock after selling 54,671 shares during the quarter. Customers Bancorp makes up approximately 0.7% of Crawford Fund Management LLC’s investment portfolio, making the stock its 23rd largest holding. Crawford Fund Management LLC’s holdings in Customers Bancorp were worth $3,129,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Ridgewood Investments LLC bought a new position in Customers Bancorp during the second quarter worth about $48,000. GAMMA Investing LLC increased its position 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 period. Innealta Capital LLC bought a new position in Customers Bancorp in the 2nd quarter valued at about $74,000. Quest Partners LLC increased its holdings in 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 buying an additional 962 shares during the period. Finally, CWM LLC increased its holdings in Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after buying an additional 274 shares during the period. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Stock Up 0.5 %

Shares of NYSE CUBI opened at $56.84 on Friday. The company has a market capitalization of $1.78 billion, a P/E ratio of 9.23 and a beta of 1.61. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. 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’s 50 day moving average price is $48.98 and its 200-day moving average price is $49.72.

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

Analysts Set New Price Targets

Several research firms have commented on CUBI. Raymond James decreased their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Stephens raised their target price on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. StockNews.com downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Piper Sandler reduced their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $57.00 to $52.00 in a research note on Monday, November 4th. One equities 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 company. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Hold” and an average price target of $61.11.

Insider Activity

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

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.