Royce & Associates LP Has $9.98 Million Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Royce & Associates LP decreased its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 25.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 214,802 shares of the bank's stock after selling 72,773 shares during the quarter. Royce & Associates LP owned approximately 0.68% of Customers Bancorp worth $9,978,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CUBI. Ridgewood Investments LLC acquired a new position in shares of Customers Bancorp in the second quarter worth $48,000. Innealta Capital LLC purchased a new stake in shares of Customers Bancorp during the 2nd quarter worth about $74,000. GAMMA Investing LLC lifted its holdings in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock valued at $73,000 after buying an additional 282 shares during the last quarter. CWM LLC grew its stake in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank's stock valued at $102,000 after buying an additional 274 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in Customers Bancorp in the second quarter worth approximately $151,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Down 0.4 %

CUBI opened at $54.87 on Friday. The business has a 50 day moving average of $47.84 and a 200-day moving average of $49.28. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 8.91 and a beta of 1.61. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a 1-year low of $42.31 and a 1-year high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same period last year, the company earned $2.59 earnings per share. Customers Bancorp's revenue for the quarter was down 23.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Glenn Hedde sold 5,002 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the sale, the insider now directly owns 66,256 shares in the company, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Jay S. Sidhu sold 86,578 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the sale, the chief executive officer now owns 1,090,598 shares in the company, valued at $61,662,410.92. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 92,440 shares of company stock valued at $5,210,695 over the last three months. 6.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CUBI shares. Hovde Group cut shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and set a $49.00 target price for the company. in a research note on Friday, August 9th. Wedbush lowered shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and lowered their target price for the stock from $57.00 to $52.00 in a research report on Monday, November 4th. StockNews.com raised Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday. Finally, DA Davidson upped their price target on Customers Bancorp from $71.00 to $79.00 and gave the stock a "buy" rating in a research note on Monday, July 29th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $61.11.

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.