Proficio Capital Partners LLC Invests $1.28 Million in Customers Bancorp, Inc. (NYSE:CUBI)

Proficio Capital Partners LLC bought a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 26,239 shares of the bank's stock, valued at approximately $1,277,000. Proficio Capital Partners LLC owned 0.08% of Customers Bancorp at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Sanctuary Advisors LLC boosted its holdings in shares of Customers Bancorp by 3.2% during the fourth quarter. Sanctuary Advisors LLC now owns 9,714 shares of the bank's stock worth $473,000 after acquiring an additional 302 shares during the period. SG Americas Securities LLC lifted its holdings in Customers Bancorp by 6.3% during the 4th quarter. SG Americas Securities LLC now owns 5,579 shares of the bank's stock worth $272,000 after purchasing an additional 333 shares during the last quarter. Basswood Capital Management L.L.C. bought a new stake in Customers Bancorp in the 3rd quarter valued at $26,000. KBC Group NV grew its holdings in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after buying an additional 677 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its position in Customers Bancorp by 5.0% during the 4th quarter. Illinois Municipal Retirement Fund now owns 16,624 shares of the bank's stock worth $809,000 after buying an additional 794 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Trading Down 2.0 %

CUBI traded down $1.01 during midday trading on Monday, hitting $49.20. 14,986 shares of the company were exchanged, compared to its average volume of 349,262. The firm's 50 day moving average price is $52.76 and its 200-day moving average price is $50.88. Customers Bancorp, Inc. has a 1-year low of $42.31 and a 1-year high of $68.49. The firm has a market capitalization of $1.55 billion, a P/E ratio of 9.70 and a beta of 1.74. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

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Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating the consensus estimate 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, equities analysts forecast that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CUBI has been the subject of a number of recent research reports. StockNews.com raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. Maxim Group boosted their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 27th. DA Davidson raised their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on 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, Stephens restated an "equal weight" rating and set a $58.00 price objective on shares of Customers Bancorp in a research note on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 33,173 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,032,723 shares of the company's stock, valued at approximately $59,123,391.75. This trade represents a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the firm's stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of the transaction, the insider now directly owns 55,211 shares in the company, valued at $3,216,040.75. This trade represents 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 90 days. Corporate insiders own 6.92% of the company's stock.

Customers Bancorp 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.