Customers Bancorp, Inc. (NYSE:CUBI) Stock Position Trimmed by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 66.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,872 shares of the bank's stock after selling 66,004 shares during the period. Alliancebernstein L.P. owned approximately 0.11% of Customers Bancorp worth $1,649,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Picton Mahoney Asset Management lifted its holdings 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 worth $28,000 after acquiring an additional 189 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Customers Bancorp during the 4th quarter worth approximately $42,000. KBC Group NV lifted its holdings in shares of Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock worth $73,000 after purchasing an additional 677 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Customers Bancorp by 323.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock valued at $80,000 after purchasing an additional 1,255 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Customers Bancorp by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 5,579 shares of the bank's stock valued at $272,000 after purchasing an additional 333 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Stock Performance

Shares of CUBI stock traded up $2.68 on Wednesday, reaching $48.94. The stock had a trading volume of 53,083 shares, compared to its average volume of 372,179. Customers Bancorp, Inc. has a 1 year low of $40.75 and a 1 year high of $68.49. The company has a 50 day simple moving average of $49.75 and a 200 day simple moving average of $50.79. The stock has a market cap of $1.54 billion, a P/E ratio of 9.63 and a beta of 1.47. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating 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%. Equities research analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the sale, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $3,806,940.00. Following the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,988 shares of company stock worth $6,627,318. 6.92% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

CUBI has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods upped their price objective 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. Maxim Group increased their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. DA Davidson raised their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Finally, Stephens reiterated an "equal weight" rating and issued a $58.00 target price on shares of Customers Bancorp in a research note on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Customers Bancorp has an average 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.