Barclays PLC Lowers Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Barclays PLC reduced its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 10.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,434 shares of the bank's stock after selling 9,445 shares during the period. Barclays PLC owned 0.26% of Customers Bancorp worth $3,916,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Picton Mahoney Asset Management raised its stake in Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after purchasing an additional 189 shares during the period. R Squared Ltd purchased a new position in shares of Customers Bancorp in the 4th quarter worth $42,000. 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 acquiring an additional 677 shares during the last quarter. Smartleaf Asset Management LLC increased its stake in 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 acquiring an additional 1,255 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after purchasing an additional 254 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on CUBI shares. DA Davidson increased their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a "market perform" rating in a report on Monday, January 27th. 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. Finally, Maxim Group boosted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the sale, the insider now directly owns 55,211 shares of the company's stock, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp 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 transaction, the chief executive officer now directly owns 965,723 shares of the company's stock, valued at $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. Insiders sold a total of 115,988 shares of company stock valued at $6,627,318 over the last three months. 6.92% of the stock is owned by insiders.

Customers Bancorp Stock Performance

Customers Bancorp stock opened at $48.82 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The stock has a 50 day moving average of $49.29 and a 200-day moving average of $50.92. The stock has a market cap of $1.54 billion, a P/E ratio of 9.61 and a beta of 1.47. 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 announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.26. The company had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. On average, analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

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.

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