Walleye Capital LLC Boosts Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Walleye Capital LLC boosted its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 536.3% in the third quarter, Holdings Channel.com reports. The fund owned 38,450 shares of the bank’s stock after acquiring an additional 32,407 shares during the quarter. Walleye Capital LLC’s holdings in Customers Bancorp were worth $1,786,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Dimensional Fund Advisors LP boosted its holdings in Customers Bancorp by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock valued at $107,575,000 after acquiring an additional 21,302 shares during the period. American Century Companies Inc. lifted its holdings in shares of Customers Bancorp by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after buying an additional 87,557 shares during the period. Hood River Capital Management LLC lifted its holdings in shares of Customers Bancorp by 94.3% in the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after buying an additional 266,462 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Customers Bancorp by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after buying an additional 12,000 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after buying an additional 225,785 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In other news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction dated 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 directly owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the sale, the chief executive officer now owns 1,189,738 shares in the company, valued at $65,114,360.74. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,440 shares of company stock valued at $5,425,815. Company insiders own 6.92% of the company’s stock.

Customers Bancorp Trading Up 0.7 %

Shares of NYSE:CUBI opened at $55.33 on Thursday. The business’s 50-day moving average is $49.88 and its 200 day moving average is $49.96. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49. The firm has a market capitalization of $1.73 billion, a P/E ratio of 8.98 and a beta of 1.65. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92.

Customers Bancorp (NYSE:CUBI) last announced its earnings results 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 business had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same period in the prior year, the company earned $2.59 earnings per share. The company’s quarterly revenue was down 23.2% on a year-over-year basis. On average, research analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CUBI has been the subject of several research reports. Raymond James lowered their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. Stephens boosted their price target on Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research report on Friday, August 9th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, Piper Sandler reduced their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.22.

Customers Bancorp Company 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.