South Dakota Investment Council Grows Position in Customers Bancorp, Inc. (NYSE:CUBI)

South Dakota Investment Council boosted its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 3.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 205,597 shares of the bank’s stock after purchasing an additional 6,298 shares during the period. South Dakota Investment Council’s holdings in Customers Bancorp were worth $10,008,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Basswood Capital Management L.L.C. purchased a new position in Customers Bancorp during the 3rd quarter valued at about $26,000. R Squared Ltd purchased a new position in Customers Bancorp during the 4th quarter valued at about $42,000. KBC Group NV boosted its holdings in Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after acquiring an additional 677 shares during the period. Quest Partners LLC boosted its holdings in Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after acquiring an additional 962 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in Customers Bancorp during the 3rd quarter valued at about $84,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Customers Bancorp Trading Down 4.5 %

CUBI opened at $53.16 on Friday. The business’s 50 day moving average is $52.11 and its two-hundred day moving average is $50.52. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of 10.47 and a beta of 1.68. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last announced its 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 return on equity of 12.29% and a net margin of 13.07%. On average, research analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction that occurred 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 sale, the insider now directly owns 55,211 shares in the company, valued at $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now owns 965,723 shares in the company, valued at approximately $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,988 shares of company stock worth $6,627,318. 6.92% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CUBI. B. Riley increased their price target on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Piper Sandler reduced their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Maxim Group increased their price target 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 increased their price target on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Keefe, Bruyette & Woods increased their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

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.