Tidal Investments LLC Sells 65,390 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Tidal Investments LLC lessened its stake in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 35.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 120,803 shares of the bank's stock after selling 65,390 shares during the quarter. Tidal Investments LLC owned 0.39% of Customers Bancorp worth $5,611,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CUBI. Hood River Capital Management LLC lifted its holdings in shares of Customers Bancorp by 94.3% during the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank's stock valued at $26,344,000 after buying an additional 266,462 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Customers Bancorp by 88.9% in the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank's stock valued at $22,284,000 after acquiring an additional 225,785 shares during the last quarter. State Street Corp grew its position in Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank's stock worth $82,773,000 after acquiring an additional 169,982 shares in the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Customers Bancorp during the 2nd quarter worth $7,690,000. Finally, American Century Companies Inc. raised its holdings in shares of Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank's stock valued at $32,954,000 after purchasing an additional 87,557 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CUBI shares. StockNews.com raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. Wedbush lowered Customers Bancorp from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Keefe, Bruyette & Woods boosted their target price on Customers Bancorp from $52.00 to $62.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. Stephens upped their target price on Customers Bancorp from $53.00 to $55.00 and gave the stock an "equal weight" rating in a research report on Monday, November 11th. Finally, B. Riley lifted their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Customers Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $62.22.

Insiders Place Their Bets

In other Customers Bancorp news, Director Robert Neil Mackay sold 4,000 shares of the company's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the sale, the director now directly owns 4,567 shares in the company, valued at $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now owns 66,256 shares of the company's stock, valued at $3,556,622.08. This represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock worth $5,425,815 over the last 90 days. Corporate insiders own 6.92% of the company's stock.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock traded up $0.50 during midday trading on Friday, hitting $53.51. The company had a trading volume of 214,480 shares, compared to its average volume of 363,882. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The business's 50 day simple moving average is $51.14 and its two-hundred day simple moving average is $50.31. Customers Bancorp, Inc. has a 1-year low of $42.31 and a 1-year high of $68.49. The stock has a market cap of $1.68 billion, a PE ratio of 8.69 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same period last year, the company earned $2.59 EPS. The company's revenue was down 23.2% on a year-over-year basis. As a group, equities analysts predict that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

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.