Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 46.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 285,368 shares of the bank's stock after buying an additional 90,451 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.91% of Customers Bancorp worth $13,621,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. CWM LLC grew its holdings in shares of Customers Bancorp by 14.2% during the third 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 last quarter. SG Americas Securities LLC boosted its holdings in Customers Bancorp by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank's stock valued at $272,000 after purchasing an additional 333 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new stake in Customers Bancorp in the third quarter valued at $26,000. KBC Group NV boosted its holdings in 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 last quarter. Finally, R Squared Ltd purchased a new stake in Customers Bancorp in the fourth quarter valued at $42,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have commented on CUBI. Stephens reaffirmed an "equal weight" rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. B. Riley upped their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 4th. Maxim Group upped their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 27th. Piper Sandler lowered their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods increased their target price 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. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Customers Bancorp presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Customers Bancorp Price Performance

Shares of CUBI stock traded down $2.48 during mid-day trading on Friday, hitting $53.16. 299,958 shares of the stock were exchanged, compared to its average volume of 307,419. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average of $52.11 and a 200 day moving average of $50.56. The company has a market cap of $1.67 billion, a PE ratio of 10.47 and a beta of 1.68.

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

Insider Buying and Selling

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now owns 55,211 shares in the company, valued at approximately $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 accessible through the SEC website. Also, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the completion of the sale, the chief executive officer now owns 965,723 shares of the company's stock, valued at approximately $54,872,380.86. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,988 shares of company stock worth $6,627,318 in the last 90 days. Insiders own 6.92% of the company's stock.

About Customers Bancorp

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.