Harbor Advisors LLC Acquires 11,075 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Harbor Advisors LLC increased its position in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 33.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,450 shares of the bank's stock after acquiring an additional 11,075 shares during the period. Harbor Advisors LLC owned approximately 0.14% of Customers Bancorp worth $2,164,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new stake in Customers Bancorp during the fourth quarter worth approximately $548,000. KLP Kapitalforvaltning AS acquired a new position in shares of Customers Bancorp in the 4th quarter worth $789,000. American Century Companies Inc. lifted its stake in Customers Bancorp by 5.9% during the fourth 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 in the last quarter. Intech Investment Management LLC raised its holdings in shares of Customers Bancorp by 120.6% during the fourth quarter. Intech Investment Management LLC now owns 55,916 shares of the bank's stock valued at $2,722,000 after acquiring an additional 30,567 shares during the period. Finally, Royce & Associates LP raised its stake in Customers Bancorp by 17.6% during the 4th quarter. Royce & Associates LP now owns 252,590 shares of the bank's stock valued at $12,296,000 after purchasing an additional 37,788 shares during the period. Institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

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

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Customers Bancorp Price Performance

Customers Bancorp stock traded down $0.21 during trading hours on Thursday, hitting $51.88. 151,233 shares of the stock were exchanged, compared to its average volume of 348,497. The stock has a market capitalization of $1.63 billion, a P/E ratio of 10.21 and a beta of 1.74. Customers Bancorp, Inc. has a 12 month low of $42.31 and a 12 month high of $68.49. The business's 50-day moving average is $53.58 and its two-hundred day moving average is $50.93. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96.

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, topping analysts' consensus estimates 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 expect that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were 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 owns 965,723 shares of the company's stock, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the firm's stock in a transaction dated 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 directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock worth $6,627,318 over the last 90 days. Insiders own 6.92% of the company's stock.

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.