AlphaQuest LLC Has $680,000 Stake in Customers Bancorp, Inc. (NYSE:CUBI)

AlphaQuest LLC lifted its position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 755.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,966 shares of the bank's stock after buying an additional 12,333 shares during the period. AlphaQuest LLC's holdings in Customers Bancorp were worth $680,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CUBI. Basswood Capital Management L.L.C. acquired a new position in shares of Customers Bancorp during the third quarter worth about $26,000. R Squared Ltd acquired a new position in shares of Customers Bancorp during the fourth quarter worth about $42,000. KBC Group NV boosted its position in shares of Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock worth $73,000 after buying an additional 677 shares during the period. Quest Partners LLC boosted its position in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock worth $76,000 after buying an additional 962 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Customers Bancorp by 323.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock worth $80,000 after buying an additional 1,255 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CUBI has been the subject of several recent research reports. Stephens reaffirmed an "equal weight" rating and set a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. 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. StockNews.com raised Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. 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, 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. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Customers Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

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Insider Transactions at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glenn Hedde sold 15,815 shares of the 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 transaction, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 115,988 shares of company stock worth $6,627,318. Company insiders own 6.92% of the company's stock.

Customers Bancorp Price Performance

NYSE:CUBI opened at $48.33 on Wednesday. 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 stock's 50 day moving average price is $52.74 and its two-hundred day moving average price is $50.87. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of 9.51 and a beta of 1.74. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) 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, analysts anticipate that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

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.

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