Canada Pension Plan Investment Board Purchases Shares of 36,000 Customers Bancorp, Inc. (NYSE:CUBI)

Canada Pension Plan Investment Board acquired a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 36,000 shares of the bank's stock, valued at approximately $1,752,000. Canada Pension Plan Investment Board owned approximately 0.11% of Customers Bancorp as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CUBI. American Century Companies Inc. increased its holdings in shares of Customers Bancorp by 5.9% during the 4th quarter. American Century Companies Inc. now owns 773,772 shares of the bank's stock worth $37,667,000 after acquiring an additional 42,965 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Customers Bancorp by 2.7% in the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank's stock valued at $31,924,000 after purchasing an additional 17,941 shares during the period. JPMorgan Chase & Co. raised its position in shares of Customers Bancorp by 33.1% in the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank's stock valued at $20,912,000 after purchasing an additional 106,895 shares during the period. Tieton Capital Management LLC lifted its stake in shares of Customers Bancorp by 22.9% during the 4th quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank's stock worth $14,135,000 after buying an additional 54,170 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Customers Bancorp by 46.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank's stock worth $13,621,000 after buying an additional 90,451 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Keefe, Bruyette & Woods cut their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating for the company in a research report on Monday. Stephens restated an "equal weight" rating and issued a $58.00 price target on shares of Customers Bancorp in a research note on Friday, January 24th. DA Davidson increased their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Finally, Maxim Group boosted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $63.80.

Insider Activity at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 67,000 shares of the business'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 sale, the chief executive officer now owns 965,723 shares of the company's stock, valued at $54,872,380.86. The trade was a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the firm'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 approximately $3,216,040.75. This represents a 22.27 % 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 90 days. 6.92% of the stock is owned by corporate insiders.

Customers Bancorp Price Performance

Shares of CUBI traded up $1.03 during midday trading on Tuesday, hitting $50.28. The company's stock had a trading volume of 56,203 shares, compared to its average volume of 369,957. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a one year low of $40.75 and a one year high of $68.49. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.89 and a beta of 1.47. The company's fifty day simple moving average is $49.15 and its two-hundred day simple moving average is $50.93.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.28 by $0.26. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. The business had revenue of $194.28 million during the quarter, compared to analysts' expectations of $165.24 million. During the same period in the prior year, the company earned $1.68 EPS. As a group, equities analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp 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.