New York State Common Retirement Fund Has $450,000 Position in Customers Bancorp, Inc. (NYSE:CUBI)

New York State Common Retirement Fund decreased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 59.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 9,241 shares of the bank's stock after selling 13,500 shares during the period. New York State Common Retirement Fund's holdings in Customers Bancorp were worth $450,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Basswood Capital Management L.L.C. acquired a new stake in shares of Customers Bancorp in the third quarter valued at about $26,000. R Squared Ltd bought a new position in Customers Bancorp in the 4th quarter worth approximately $42,000. KBC Group NV lifted its holdings 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 worth $73,000 after buying an additional 677 shares during the last quarter. Quest Partners LLC boosted its position in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock valued at $76,000 after acquiring an additional 962 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Customers Bancorp in the third quarter valued at approximately $84,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Insiders Place Their Bets

In other news, CEO Jay S. Sidhu sold 33,173 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $57.25, for a total transaction 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 ownership of the stock. The sale 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 company'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 transaction, the insider now directly 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. Over the last quarter, insiders have sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is currently owned by corporate insiders.

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Customers Bancorp Price Performance

Shares of NYSE:CUBI traded down $0.05 on Friday, hitting $50.35. The stock had a trading volume of 227,728 shares, compared to its average volume of 350,544. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month 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 firm's 50 day moving average price is $52.72 and its 200-day moving average price is $50.83. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.91 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly 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 net margin of 13.07% and a return on equity of 12.29%. On average, equities research analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Wall Street Analyst Weigh In

CUBI has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods upped 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 report on Monday, January 27th. Stephens reiterated an "equal weight" rating and issued a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson lifted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock 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. Finally, StockNews.com upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, December 1st. Six equities research 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 stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price 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.