Vanguard Group Inc. Has $104.06 Million Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Vanguard Group Inc. lowered its holdings in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,137,632 shares of the bank's stock after selling 57,835 shares during the period. Vanguard Group Inc. owned about 6.82% of Customers Bancorp worth $104,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. FMR LLC increased its holdings in shares of Customers Bancorp by 112.3% in the 3rd quarter. FMR LLC now owns 15,720 shares of the bank's stock worth $730,000 after acquiring an additional 8,314 shares during the period. Point72 Asset Management L.P. bought a new position in Customers Bancorp in the 3rd quarter worth about $223,000. State Street Corp increased its stake in shares of Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank's stock valued at $82,773,000 after purchasing an additional 169,982 shares during the period. Y Intercept Hong Kong Ltd bought a new stake in shares of Customers Bancorp during the third quarter valued at approximately $736,000. Finally, Barclays PLC boosted its position in shares of Customers Bancorp by 46.9% during the third quarter. Barclays PLC now owns 89,879 shares of the bank's stock worth $4,175,000 after buying an additional 28,683 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Price Performance

Shares of NYSE CUBI traded up $0.77 during midday trading on Tuesday, reaching $44.95. The company's stock had a trading volume of 22,544 shares, compared to its average volume of 308,901. Customers Bancorp, Inc. has a one year low of $40.75 and a one year high of $68.49. The company has a market cap of $1.41 billion, a price-to-earnings ratio of 8.85 and a beta of 1.47. The company has a 50 day moving average price of $51.18 and a 200 day moving average price of $50.83. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77.

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

Wall Street Analyst Weigh In

Several brokerages have weighed in on CUBI. Keefe, Bruyette & Woods lifted their target price 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. 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. Maxim Group increased their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, DA Davidson boosted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research report 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. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $64.00.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 33,173 shares of the firm's stock in a transaction that occurred on 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 transaction, 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 Securities & Exchange Commission, which is available through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the stock in a transaction on Thursday, January 30th. The stock was 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 trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,988 shares of company stock valued at $6,627,318. Corporate insiders own 6.92% of the company's stock.

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.