Charles Schwab Investment Management Inc. Has $23.82 Million Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Charles Schwab Investment Management Inc. reduced its position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 4.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 489,287 shares of the bank's stock after selling 20,182 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.56% of Customers Bancorp worth $23,818,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CUBI. Basswood Capital Management L.L.C. acquired a new position in shares of Customers Bancorp in the third quarter worth $26,000. R Squared Ltd acquired a new position in shares of Customers Bancorp in the fourth quarter worth $42,000. KBC Group NV increased its stake in shares of Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock worth $73,000 after acquiring an additional 677 shares during the last quarter. Quest Partners LLC increased its stake in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock worth $76,000 after acquiring an additional 962 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Customers Bancorp by 323.5% in 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. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CUBI has been the topic of a number of research reports. Maxim Group upped their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. DA Davidson upped their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. StockNews.com raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. Stephens reissued an "equal weight" rating and set a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. 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 report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.00.

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Customers Bancorp Stock Performance

CUBI stock traded up $0.36 during mid-day trading on Friday, reaching $51.59. 704,218 shares of the stock traded hands, compared to its average volume of 348,917. 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 52 week low of $42.31 and a 52 week high of $68.49. The business has a 50-day moving average of $53.22 and a two-hundred day moving average of $50.84. The firm has a market capitalization of $1.62 billion, a PE ratio of 10.16 and a beta of 1.74.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, equities analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In related 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 trade represents a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,988 shares of company stock worth $6,627,318. Company 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.