Proficio Capital Partners LLC Purchases Shares of 26,239 Customers Bancorp, Inc. (NYSE:CUBI)

Proficio Capital Partners LLC purchased a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 26,239 shares of the bank's stock, valued at approximately $1,277,000. Proficio Capital Partners LLC owned approximately 0.08% of Customers Bancorp at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. State Street Corp raised its position 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 purchasing an additional 169,982 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank's stock valued at $13,621,000 after acquiring an additional 90,451 shares during the last quarter. Walleye Capital LLC lifted its position in shares of Customers Bancorp by 536.3% in the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank's stock valued at $1,786,000 after acquiring an additional 32,407 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Customers Bancorp by 94.2% in the third quarter. Quantbot Technologies LP now owns 63,036 shares of the bank's stock valued at $2,928,000 after acquiring an additional 30,573 shares in the last quarter. Finally, Barclays PLC increased its position in shares of Customers Bancorp by 46.9% during the third quarter. Barclays PLC now owns 89,879 shares of the bank's stock worth $4,175,000 after purchasing an additional 28,683 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In related news, CEO Jay S. Sidhu sold 33,173 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $57.25, for a total value of $1,899,154.25. Following the sale, the chief executive officer now owns 1,032,723 shares in the company, valued at approximately $59,123,391.75. The trade was a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,988 shares of company stock valued at $6,627,318. Company insiders own 6.92% of the company's stock.

Customers Bancorp Trading Up 2.6 %

CUBI stock traded up $1.36 during midday trading on Monday, hitting $52.91. 231,056 shares of the company's stock were exchanged, compared to its average volume of 348,861. Customers Bancorp, Inc. has a 1-year low of $42.31 and a 1-year high of $68.49. The business has a 50-day simple moving average of $53.22 and a two-hundred day simple moving average of $50.85. The stock has a market capitalization of $1.66 billion, a PE ratio of 10.41 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 issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Analyst Ratings Changes

CUBI has been the topic of a number of research reports. DA Davidson raised their price objective on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods raised 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. Stephens reaffirmed an "equal weight" rating and set a $58.00 price objective on shares of Customers Bancorp in a research note on Friday, January 24th. StockNews.com raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, December 1st. Finally, Maxim Group upped their price target on 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 stock. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of "Moderate Buy" and a consensus price target 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.