Thrivent Financial for Lutherans Reduces Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Thrivent Financial for Lutherans reduced its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 34.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 45,563 shares of the bank's stock after selling 23,562 shares during the period. Thrivent Financial for Lutherans owned about 0.15% of Customers Bancorp worth $2,218,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CUBI. Royce & Associates LP increased its stake in shares of Customers Bancorp by 17.6% in the 4th quarter. Royce & Associates LP now owns 252,590 shares of the bank's stock worth $12,296,000 after purchasing an additional 37,788 shares in the last quarter. Picton Mahoney Asset Management lifted its position in shares of Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after buying an additional 189 shares in the last quarter. First Eagle Investment Management LLC purchased a new position in shares of Customers Bancorp during the 4th quarter valued at about $3,379,000. Swiss National Bank grew its stake in shares of Customers Bancorp by 1.0% during the 4th quarter. Swiss National Bank now owns 59,200 shares of the bank's stock valued at $2,882,000 after acquiring an additional 600 shares during the period. Finally, AlphaQuest LLC increased its holdings in Customers Bancorp by 755.2% in the 4th quarter. AlphaQuest LLC now owns 13,966 shares of the bank's stock worth $680,000 after acquiring an additional 12,333 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jay S. Sidhu sold 67,000 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were 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 owns 965,723 shares in the company, valued at approximately $54,872,380.86. This trade represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock valued at $6,627,318 over the last ninety days. 6.92% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CUBI shares. Maxim Group upped their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and issued a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. DA Davidson raised their price target on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods upped their price objective on Customers Bancorp from $62.00 to $67.00 and gave the stock a "market perform" rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

Customers Bancorp Price Performance

NYSE CUBI traded up $0.95 during trading on Wednesday, hitting $51.73. 198,962 shares of the stock traded hands, compared to its average volume of 366,026. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49. The firm has a 50-day simple moving average of $53.63 and a 200-day simple moving average of $51.01. The company has a market capitalization of $1.63 billion, a P/E ratio of 10.18 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, analysts predict that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

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.