Intech Investment Management LLC Has $2.72 Million Position in Customers Bancorp, Inc. (NYSE:CUBI)

Intech Investment Management LLC lifted its holdings in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 120.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,916 shares of the bank's stock after acquiring an additional 30,567 shares during the period. Intech Investment Management LLC owned approximately 0.18% of Customers Bancorp worth $2,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in CUBI. Basswood Capital Management L.L.C. purchased a new position in Customers Bancorp in the third quarter valued at about $26,000. Picton Mahoney Asset Management lifted its position in Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after acquiring an additional 189 shares in the last quarter. R Squared Ltd purchased a new position in Customers Bancorp in the 4th quarter worth approximately $42,000. KBC Group NV raised its stake in shares of Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after purchasing an additional 677 shares during the period. Finally, Quest Partners LLC lifted its position in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock worth $76,000 after purchasing an additional 962 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the business's stock in a transaction on Thursday, January 30th. The stock was 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 owns 55,211 shares in the company, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jay S. Sidhu sold 67,000 shares of the business'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 sale, the chief executive officer now owns 965,723 shares in the company, valued at $54,872,380.86. This trade represents a 6.49 % 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 worth $6,627,318 in the last ninety days. 6.92% of the stock is owned by insiders.

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Customers Bancorp Stock Performance

NYSE CUBI traded up $1.36 during trading hours on Monday, reaching $52.91. The company's stock had a trading volume of 231,056 shares, compared to its average volume of 348,861. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $53.22 and a 200 day simple moving average of $50.85. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49. The stock has a market cap of $1.66 billion, a PE ratio of 10.41 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Equities research analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stephens reiterated an "equal weight" rating and issued a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th. DA Davidson increased their price target on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Maxim Group lifted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $62.00 to $67.00 and gave the company a "market perform" rating in a research note on Monday, January 27th. Finally, StockNews.com raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $64.00.

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.