Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 38.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,370 shares of the bank's stock after selling 45,150 shares during the quarter. Renaissance Technologies LLC owned 0.23% of Customers Bancorp worth $3,474,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CUBI. Gator Capital Management LLC grew its holdings in Customers Bancorp by 135.0% in the fourth quarter. Gator Capital Management LLC now owns 178,801 shares of the bank's stock valued at $8,704,000 after purchasing an additional 102,701 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in Customers Bancorp by 20.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 17,777 shares of the bank's stock valued at $865,000 after acquiring an additional 2,994 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Customers Bancorp by 27.8% during the 4th quarter. Wells Fargo & Company MN now owns 17,424 shares of the bank's stock valued at $848,000 after acquiring an additional 3,792 shares in the last quarter. ExodusPoint Capital Management LP acquired a new position in Customers Bancorp during the fourth quarter worth about $2,960,000. Finally, Heartland Advisors Inc. purchased a new stake in shares of Customers Bancorp in the fourth quarter valued at about $7,672,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods raised their price objective 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. DA Davidson raised their price target on Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Stephens restated an "equal weight" rating and issued a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, Maxim Group increased their price objective on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Six 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, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $64.00.

Customers Bancorp Trading Down 3.0 %

CUBI stock traded down $1.51 on Friday, hitting $48.82. 617,296 shares of the company were exchanged, compared to its average volume of 376,588. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market capitalization of $1.54 billion, a price-to-earnings ratio of 9.61 and a beta of 1.47. The business's fifty day moving average is $49.29 and its two-hundred day moving average is $50.84. Customers Bancorp, Inc. has a twelve month low of $40.75 and a twelve month high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. The company had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. As a group, research analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Insiders Place Their Bets

In other Customers Bancorp news, 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 transaction, the insider now directly owns 55,211 shares of the company's stock, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer now directly owns 965,723 shares of the company's stock, valued at $54,872,380.86. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 115,988 shares of company stock worth $6,627,318 over the last ninety days. 6.92% of the stock is owned by company insiders.

About Customers Bancorp

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.