Intech Investment Management LLC Increases Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Intech Investment Management LLC increased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 74.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,349 shares of the bank's stock after buying an additional 10,797 shares during the quarter. Intech Investment Management LLC owned about 0.08% of Customers Bancorp worth $1,177,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Ridgewood Investments LLC acquired a new stake in Customers Bancorp during the 2nd quarter valued at approximately $48,000. GAMMA Investing LLC lifted its position in Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock valued at $73,000 after purchasing an additional 282 shares during the period. Innealta Capital LLC acquired a new stake in Customers Bancorp during the 2nd quarter worth about $74,000. Quest Partners LLC lifted its holdings in shares of Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock valued at $76,000 after buying an additional 962 shares during the period. Finally, CWM LLC grew its holdings in Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank's stock worth $102,000 after acquiring an additional 274 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler decreased their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Wedbush lowered Customers Bancorp from an "outperform" rating to a "neutral" rating and decreased their target price for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods cut shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and dropped their price target for the company from $57.00 to $52.00 in a research note on Monday, November 4th. B. Riley boosted their price objective on Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Finally, Hovde Group cut shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and set a $49.00 target price for the company. in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Customers Bancorp presently has an average rating of "Hold" and an average price target of $61.11.

Customers Bancorp Trading Down 1.9 %

Shares of Customers Bancorp stock opened at $56.58 on Wednesday. The stock has a 50 day moving average of $48.82 and a 200 day moving average of $49.67. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 9.19 and a beta of 1.61. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business's revenue for the quarter was down 23.2% on a year-over-year basis. During the same period last year, the company earned $2.59 EPS. As a group, research analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the sale, the insider now directly owns 66,256 shares of the company's stock, valued at approximately $3,556,622.08. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu sold 86,578 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the transaction, the chief executive officer now owns 1,090,598 shares of the company's stock, valued at $61,662,410.92. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,440 shares of company stock worth $5,425,815 over the last three months. 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.