First Eagle Investment Management LLC Purchases Shares of 69,417 Customers Bancorp, Inc. (NYSE:CUBI)

First Eagle Investment Management LLC bought a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 69,417 shares of the bank's stock, valued at approximately $3,379,000. First Eagle Investment Management LLC owned 0.22% of Customers Bancorp at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Basswood Capital Management L.L.C. purchased a new position in shares of Customers Bancorp during the third quarter valued at approximately $26,000. R Squared Ltd purchased a new stake in shares of Customers Bancorp in the fourth quarter valued at approximately $42,000. KBC Group NV boosted its holdings in shares of Customers Bancorp by 82.8% in 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 during the period. Quest Partners LLC boosted its holdings in shares of 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 during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock valued at $80,000 after purchasing an additional 1,255 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Down 0.6 %

Shares of CUBI stock traded down $0.28 during trading hours on Thursday, reaching $51.26. 215,791 shares of the company's stock were exchanged, compared to its average volume of 347,241. The stock's 50 day moving average is $53.01 and its 200-day moving average is $50.84. The company has a market cap of $1.61 billion, a price-to-earnings ratio of 10.09 and a beta of 1.74. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49.

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Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Activity at Customers Bancorp

In related news, insider Glenn Hedde sold 15,815 shares of the company's 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 transaction, the insider now directly owns 55,211 shares of the company's stock, valued at $3,216,040.75. This represents a 22.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the company's stock in a transaction 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 transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock valued at $6,627,318 in the last ninety days. Company insiders own 6.92% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CUBI shares. Stephens reiterated an "equal weight" rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Maxim Group boosted their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. DA Davidson boosted their price objective 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. Finally, StockNews.com raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, December 1st. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Customers Bancorp presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

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.