Royce & Associates LP Purchases 37,788 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Royce & Associates LP raised its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 17.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 252,590 shares of the bank's stock after purchasing an additional 37,788 shares during the quarter. Royce & Associates LP owned 0.81% of Customers Bancorp worth $12,296,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CUBI. Basswood Capital Management L.L.C. bought a new stake in shares of Customers Bancorp in the third quarter worth about $26,000. Picton Mahoney Asset Management grew its position in shares of Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after buying an additional 189 shares during the last quarter. R Squared Ltd purchased a new position in shares of Customers Bancorp during the fourth quarter valued at approximately $42,000. KBC Group NV raised its holdings in shares of Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after acquiring an additional 677 shares in the last quarter. Finally, Quest Partners LLC lifted its stake in Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock worth $76,000 after acquiring an additional 962 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. DA Davidson boosted their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods increased 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. Maxim Group lifted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Stephens reissued 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, StockNews.com upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, December 1st. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

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Insider Activity

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the company's stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the transaction, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 33,173 shares of the firm's stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the sale, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock worth $6,627,318 over the last 90 days. 6.92% of the stock is currently owned by insiders.

Customers Bancorp Stock Up 0.7 %

NYSE:CUBI traded up $0.36 during trading hours on Friday, reaching $51.59. 704,218 shares of the company traded hands, compared to its average volume of 348,881. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The business's 50-day moving average price is $53.10 and its two-hundred day moving average price is $50.84. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49. The stock has a market capitalization of $1.62 billion, a P/E ratio of 10.16 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

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.