Martingale Asset Management L P Sells 24,116 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Martingale Asset Management L P lessened its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 78.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,614 shares of the bank's stock after selling 24,116 shares during the quarter. Martingale Asset Management L P's holdings in Customers Bancorp were worth $322,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gator Capital Management LLC increased its stake in shares of Customers Bancorp by 135.0% in the fourth quarter. Gator Capital Management LLC now owns 178,801 shares of the bank's stock worth $8,704,000 after acquiring an additional 102,701 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Customers Bancorp by 20.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 17,777 shares of the bank's stock worth $865,000 after purchasing an additional 2,994 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Customers Bancorp by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,424 shares of the bank's stock worth $848,000 after purchasing an additional 3,792 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of Customers Bancorp during the 4th quarter valued at about $2,960,000. Finally, Heartland Advisors Inc. bought a new stake in shares of Customers Bancorp in the 4th quarter valued at approximately $7,672,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on CUBI. Maxim Group lifted their target price 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 lifted their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a "market perform" rating in a research note on Monday, January 27th. 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. Finally, DA Davidson raised their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

Insider Activity at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 67,000 shares of the company's stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the firm's 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 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 trade represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders 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 currently owned by insiders.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI traded up $0.29 during midday trading on Friday, hitting $45.39. The company's stock had a trading volume of 182,654 shares, compared to its average volume of 373,331. Customers Bancorp, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.94 and a beta of 1.47. The stock's 50 day simple moving average is $50.44 and its 200 day simple moving average is $50.74.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 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%. As a group, research analysts anticipate that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

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.