Sippican Capital Advisors Increases Stake in Customers Bancorp, Inc. (NYSE:CUBI)

Sippican Capital Advisors grew its position in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 140.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,579 shares of the bank's stock after acquiring an additional 15,510 shares during the quarter. Sippican Capital Advisors owned approximately 0.08% of Customers Bancorp worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new position in shares of Customers Bancorp in the second quarter worth approximately $48,000. GAMMA Investing LLC lifted its holdings in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock worth $73,000 after buying an additional 282 shares during the last quarter. Innealta Capital LLC acquired a new position in Customers Bancorp in the 2nd quarter valued at approximately $74,000. CWM LLC raised its stake in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank's stock valued at $102,000 after buying an additional 274 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Customers Bancorp during the 2nd quarter worth approximately $151,000. Institutional investors own 89.29% of the company's stock.

Insider Activity

In related news, CEO Samvir S. Sidhu acquired 2,500 shares of Customers Bancorp stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $45.53 per share, with a total value of $113,825.00. Following the completion of the purchase, the chief executive officer now owns 144,504 shares of the company's stock, valued at $6,579,267.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.92% of the company's stock.

Customers Bancorp Stock Performance

Customers Bancorp stock traded up $0.47 during mid-day trading on Thursday, reaching $46.13. 699,153 shares of the company's stock were exchanged, compared to its average volume of 361,504. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $1.46 billion, a PE ratio of 6.52 and a beta of 1.61. The business's fifty day simple moving average is $47.41 and its 200 day simple moving average is $48.93. Customers Bancorp, Inc. has a one year low of $38.69 and a one year high of $68.49.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on CUBI shares. Wedbush cut Customers Bancorp from an "outperform" rating to a "neutral" rating and cut their price target for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. B. Riley lifted their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, July 29th. Jefferies Financial Group lowered their price objective on shares of Customers Bancorp from $59.00 to $57.00 and set a "buy" rating on the stock in a report on Wednesday, July 3rd. Raymond James reduced their price target on Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, October 2nd. Finally, DA Davidson boosted their price target on Customers Bancorp from $71.00 to $79.00 and gave the stock a "buy" rating in a research report on Monday, July 29th. Three 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $62.00.

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.