American Century Companies Inc. Acquires 42,965 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

American Century Companies Inc. lifted its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 5.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 773,772 shares of the bank's stock after buying an additional 42,965 shares during the period. American Century Companies Inc. owned about 2.47% of Customers Bancorp worth $37,667,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in CUBI. Intech Investment Management LLC raised its holdings in Customers Bancorp by 120.6% in the 4th quarter. Intech Investment Management LLC now owns 55,916 shares of the bank's stock valued at $2,722,000 after acquiring an additional 30,567 shares in the last quarter. Royce & Associates LP increased its position in shares of Customers Bancorp by 17.6% during the fourth quarter. Royce & Associates LP now owns 252,590 shares of the bank's stock valued at $12,296,000 after purchasing an additional 37,788 shares during the period. Picton Mahoney Asset Management raised its stake in shares of Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. First Eagle Investment Management LLC bought a new position in Customers Bancorp in the fourth quarter worth $3,379,000. Finally, Swiss National Bank boosted its stake in Customers Bancorp by 1.0% during the fourth quarter. Swiss National Bank now owns 59,200 shares of the bank's stock worth $2,882,000 after buying an additional 600 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Customers Bancorp Price Performance

Shares of CUBI traded up $0.52 on Tuesday, hitting $50.72. The company's stock had a trading volume of 282,289 shares, compared to its average volume of 366,046. The company has a market capitalization of $1.60 billion, a PE ratio of 9.98 and a beta of 1.74. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a 50 day moving average price of $53.60 and a 200 day moving average price of $51.00. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95.

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

Insider Buying and Selling

In other news, CEO Jay S. Sidhu sold 33,173 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the completion of the sale, the chief executive officer now owns 1,032,723 shares in the company, valued at $59,123,391.75. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glenn Hedde sold 15,815 shares of the firm's 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 transaction, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock worth $6,627,318 in the last 90 days. Corporate insiders own 6.92% of the company's stock.

Analyst Upgrades and Downgrades

CUBI has been the subject of a number of recent research reports. Maxim Group increased their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased their price target 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. Stephens restated an "equal weight" rating and set a $58.00 price target on shares of Customers Bancorp in a research note on Friday, January 24th. Finally, DA Davidson upped their price objective on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

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.