Federated Hermes Inc. Sells 28,710 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Federated Hermes Inc. cut its position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 20.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,572 shares of the bank's stock after selling 28,710 shares during the quarter. Federated Hermes Inc. owned approximately 0.36% of Customers Bancorp worth $5,431,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC bought a new stake in Customers Bancorp during the fourth quarter worth $1,277,000. Barclays PLC grew its position in shares of Customers Bancorp by 46.9% during the 3rd quarter. Barclays PLC now owns 89,879 shares of the bank's stock valued at $4,175,000 after acquiring an additional 28,683 shares during the period. Sanctuary Advisors LLC grew its holdings in Customers Bancorp by 12.8% during the third quarter. Sanctuary Advisors LLC now owns 9,412 shares of the bank's stock valued at $437,000 after purchasing an additional 1,066 shares during the period. Geode Capital Management LLC lifted its position in shares of Customers Bancorp by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank's stock valued at $31,924,000 after buying an additional 17,941 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Customers Bancorp by 10.5% during the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank's stock worth $82,773,000 after acquiring an additional 169,982 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Up 0.5 %

CUBI traded up $0.21 during trading on Thursday, reaching $45.31. The stock had a trading volume of 36,242 shares, compared to its average volume of 372,214. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 8.94 and a beta of 1.47. The stock's 50 day moving average is $50.67 and its two-hundred day moving average is $50.75. Customers Bancorp, Inc. has a one year low of $40.75 and a one year high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) 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%. As a group, analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Jay S. Sidhu sold 67,000 shares of the company's 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 in the company, valued at $54,872,380.86. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Glenn Hedde sold 15,815 shares of the business'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 sale, the insider now directly owns 55,211 shares of the company's stock, valued at $3,216,040.75. This represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,988 shares of company stock worth $6,627,318. 6.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on CUBI. Maxim Group boosted their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. DA Davidson boosted 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 target price 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, 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. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.00.

Customers Bancorp Company 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.