ExodusPoint Capital Management LP Makes New $2.96 Million Investment in Customers Bancorp, Inc. (NYSE:CUBI)

ExodusPoint Capital Management LP acquired a new position in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 60,801 shares of the bank's stock, valued at approximately $2,960,000. ExodusPoint Capital Management LP owned about 0.19% of Customers Bancorp as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp raised its position in Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank's stock valued at $82,773,000 after purchasing an additional 169,982 shares during the period. American Century Companies Inc. raised its holdings in shares of Customers Bancorp by 5.9% in the 4th quarter. American Century Companies Inc. now owns 773,772 shares of the bank's stock valued at $37,667,000 after buying an additional 42,965 shares during the period. Geode Capital Management LLC lifted its stake in Customers Bancorp by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank's stock worth $31,924,000 after acquiring an additional 17,941 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Customers Bancorp by 33.1% during the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank's stock valued at $20,912,000 after acquiring an additional 106,895 shares during the period. Finally, Tieton Capital Management LLC grew its position in Customers Bancorp by 22.9% in the 4th quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank's stock valued at $14,135,000 after acquiring an additional 54,170 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Activity

In other news, CEO Jay S. Sidhu sold 67,000 shares of the business's stock in a transaction dated 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. The trade was a 6.49 % decrease in their position. The transaction 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 dated Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, 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. In the last quarter, insiders sold 115,988 shares of company stock worth $6,627,318. Corporate insiders own 6.92% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. DA Davidson increased their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Stephens reiterated an "equal weight" rating and set a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. Keefe, Bruyette & Woods boosted 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. Finally, Maxim Group increased their price objective on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, January 27th. 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. According to data from MarketBeat, Customers Bancorp has a consensus rating of "Moderate Buy" and an average price target of $64.00.

Customers Bancorp Stock Down 0.0 %

Customers Bancorp stock traded down $0.02 during midday trading on Friday, reaching $43.87. The company's stock had a trading volume of 472,277 shares, compared to its average volume of 374,059. The company has a market cap of $1.38 billion, a P/E ratio of 8.64 and a beta of 1.47. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The business has a 50-day simple moving average of $51.45 and a 200-day simple moving average of $50.79. Customers Bancorp, Inc. has a fifty-two week low of $40.75 and a fifty-two week high of $68.49.

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, 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%. On average, research analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

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.