157,600 Shares in Customers Bancorp, Inc. (NYSE:CUBI) Acquired by Heartland Advisors Inc.

Heartland Advisors Inc. bought a new position in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 157,600 shares of the bank's stock, valued at approximately $7,672,000. Heartland Advisors Inc. owned about 0.50% of Customers Bancorp as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. State Street Corp grew its holdings in Customers Bancorp by 10.5% in 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 last quarter. JPMorgan Chase & Co. grew its stake in shares of Customers Bancorp by 33.1% in the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank's stock worth $20,912,000 after purchasing an additional 106,895 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Customers Bancorp by 46.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank's stock valued at $13,621,000 after purchasing an additional 90,451 shares during the period. First Eagle Investment Management LLC bought a new position in Customers Bancorp during the 4th quarter valued at approximately $3,379,000. Finally, Tieton Capital Management LLC lifted its holdings in Customers Bancorp by 22.9% in the 4th quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank's stock worth $14,135,000 after buying an additional 54,170 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Stock Up 1.3 %

CUBI traded up $0.67 during midday trading on Wednesday, reaching $51.45. The company's stock had a trading volume of 54,708 shares, compared to its average volume of 364,829. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49. The stock's 50-day moving average is $53.60 and its 200-day moving average is $51.00. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 10.13 and a beta of 1.74. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data 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%. As a group, research analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CUBI. DA Davidson boosted their target price on 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 upped their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and issued a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, 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. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Customers Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

Insider Buying and Selling

In other news, CEO Jay S. Sidhu sold 67,000 shares of the business'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 transaction, the chief executive officer now owns 965,723 shares in the company, valued at $54,872,380.86. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Glenn Hedde sold 15,815 shares of the company's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the transaction, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. 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 in the last quarter. Corporate 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.