Wolverine Asset Management LLC Makes New $3.47 Million Investment in Customers Bancorp, Inc. (NYSE:CUBI)

Wolverine Asset Management LLC purchased a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 74,694 shares of the bank's stock, valued at approximately $3,470,000. Wolverine Asset Management LLC owned about 0.24% of Customers Bancorp at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ridgewood Investments LLC bought a new stake in Customers Bancorp during the second quarter worth about $48,000. GAMMA Investing LLC increased its position in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock valued at $73,000 after purchasing an additional 282 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Customers Bancorp during the 2nd quarter worth $74,000. CWM LLC boosted its stake in shares of Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank's stock worth $102,000 after buying an additional 274 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Customers Bancorp in the second quarter valued at approximately $151,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Stock Down 0.1 %

Shares of NYSE CUBI traded down $0.05 during mid-day trading on Tuesday, hitting $56.50. 444,149 shares of the stock traded hands, compared to its average volume of 371,773. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 9.18 and a beta of 1.61. 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 stock has a fifty day moving average price of $47.31 and a 200-day moving average price of $49.05. Customers Bancorp, Inc. has a 52 week low of $40.75 and a 52 week high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) 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). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same period in the prior year, the business posted $2.59 earnings per share. Customers Bancorp's revenue was down 23.2% on a year-over-year basis. Research analysts anticipate that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 86,578 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the sale, the chief executive officer now directly owns 1,090,598 shares of the company's stock, valued at $61,662,410.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 value of $4,895,120.12. Following the sale, the chief executive officer now owns 1,090,598 shares of the company's stock, valued at $61,662,410.92. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Jay S. Sidhu sold 860 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the sale, the chief executive officer now owns 1,189,738 shares in the company, valued at approximately $65,114,360.74. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,440 shares of company stock valued at $5,210,695. Insiders own 6.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CUBI. Stephens boosted their price target on Customers Bancorp from $53.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday. Keefe, Bruyette & Woods lowered Customers Bancorp from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $57.00 to $52.00 in a research note on Monday, November 4th. Wedbush lowered Customers Bancorp from an "outperform" rating to a "neutral" rating and dropped their price objective for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. B. Riley increased their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 4th. Finally, Raymond James dropped their target price on Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $61.11.

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.