Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd reduced its position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 40.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,480 shares of the bank's stock after selling 6,373 shares during the period. Y Intercept Hong Kong Ltd's holdings in Customers Bancorp were worth $461,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in CUBI. Basswood Capital Management L.L.C. purchased a new stake in shares of Customers Bancorp in the 3rd quarter worth about $26,000. R Squared Ltd purchased a new stake in shares of Customers Bancorp in the fourth quarter valued at about $42,000. KBC Group NV grew its position in shares of Customers Bancorp by 82.8% in 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 last quarter. Quest Partners LLC increased its stake in shares of Customers Bancorp by 143.4% during the 3rd 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. Finally, Point72 DIFC Ltd acquired a new position in shares of Customers Bancorp during the 3rd quarter worth approximately $84,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Transactions at Customers Bancorp

In other news, insider Glenn Hedde sold 15,815 shares of the business's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the transaction, the insider now directly owns 55,211 shares of the company's stock, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 33,173 shares of the company's stock in a transaction 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 completion of the transaction, the chief executive officer now owns 1,032,723 shares of the company's stock, valued at $59,123,391.75. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,988 shares of company stock valued at $6,627,318 over the last quarter. Company insiders own 6.92% of the company's stock.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on CUBI shares. Keefe, Bruyette & Woods raised their price target on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Maxim Group raised their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. DA Davidson boosted 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. StockNews.com raised Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. Finally, Stephens reiterated an "equal weight" rating and set a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

Customers Bancorp Trading Down 1.3 %

CUBI stock traded down $0.64 during midday trading on Thursday, reaching $50.43. 111,367 shares of the company's stock traded hands, compared to its average volume of 349,138. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The business has a 50-day moving average price of $52.69 and a two-hundred day moving average price of $50.83. The company has a market capitalization of $1.59 billion, a P/E ratio of 9.90 and a beta of 1.74.

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