Prudential Financial Inc. Has $6.98 Million Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Prudential Financial Inc. trimmed its holdings in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 21.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 143,293 shares of the bank's stock after selling 38,710 shares during the quarter. Prudential Financial Inc. owned 0.46% of Customers Bancorp worth $6,976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of CUBI. Basswood Capital Management L.L.C. bought a new position in Customers Bancorp during the third quarter valued at about $26,000. Picton Mahoney Asset Management increased its position in shares of Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after purchasing an additional 189 shares during the period. R Squared Ltd bought a new stake in shares of Customers Bancorp during the fourth quarter valued at approximately $42,000. KBC Group NV raised its stake 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 in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock worth $80,000 after purchasing an additional 1,255 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Wall Street Analysts Forecast Growth

CUBI has been the subject of a number of recent research reports. DA Davidson increased their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased 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 report on Monday, January 27th. Maxim Group raised their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, Stephens reiterated an "equal weight" rating and issued a $58.00 price objective on shares of Customers Bancorp in a research note on Friday, January 24th. 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 MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $64.00.

Customers Bancorp Price Performance

CUBI stock traded down $2.35 during midday trading on Friday, reaching $43.25. 620,084 shares of the company's stock traded hands, compared to its average volume of 369,406. The company has a 50-day simple moving average of $53.25 and a two-hundred day simple moving average of $50.94. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a 1-year low of $40.88 and a 1-year high of $68.49. The company has a market cap of $1.36 billion, a price-to-earnings ratio of 8.51 and a beta of 1.47.

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

Insiders Place Their Bets

In other news, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp 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 sale, the chief executive officer now directly owns 965,723 shares of the company's stock, valued at approximately $54,872,380.86. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the business'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 sale, the insider now 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 115,988 shares of company stock valued at $6,627,318. Insiders own 6.92% of the company's stock.

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.