Customers Bancorp, Inc. (NYSE:CUBI) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 33.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 429,572 shares of the bank's stock after purchasing an additional 106,895 shares during the quarter. JPMorgan Chase & Co. owned 1.37% of Customers Bancorp worth $20,912,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Picton Mahoney Asset Management raised its position 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 acquiring an additional 189 shares during the period. R Squared Ltd purchased a new position in Customers Bancorp in the 4th quarter valued at about $42,000. KBC Group NV increased its stake in Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock worth $73,000 after buying an additional 677 shares in the last quarter. Smartleaf Asset Management LLC boosted 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. Finally, Point72 Asset Management L.P. acquired a new position in Customers Bancorp in the 3rd quarter valued at $223,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

CUBI has been the subject of several recent research reports. Keefe, Bruyette & Woods increased their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a "market perform" rating in a report on Monday, January 27th. Maxim Group increased their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Stephens reissued an "equal weight" rating and set a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, DA Davidson upped their target price 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. Six equities research 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

Customers Bancorp Stock Performance

Shares of CUBI traded down $0.20 during mid-day trading on Wednesday, reaching $45.00. 16,553 shares of the company's stock were exchanged, compared to its average volume of 372,302. The business's fifty day simple moving average is $50.92 and its 200-day simple moving average is $50.79. Customers Bancorp, Inc. has a 52-week low of $40.75 and a 52-week high of $68.49. The stock has a market capitalization of $1.42 billion, a PE ratio of 8.83 and a beta of 1.47. 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 earnings per share 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, equities research analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Jay S. Sidhu sold 33,173 shares of the company's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $57.25, for a total value of $1,899,154.25. Following the transaction, the chief executive officer now directly owns 1,032,723 shares in the company, valued at approximately $59,123,391.75. This represents a 3.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glenn Hedde sold 15,815 shares of the business's stock in a transaction that occurred 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 completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have 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.