Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 45.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,806 shares of the bank's stock after selling 19,848 shares during the quarter. Victory Capital Management Inc. owned 0.08% of Customers Bancorp worth $1,106,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in Customers Bancorp by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank's stock worth $107,575,000 after acquiring an additional 21,302 shares during the last quarter. Vanguard Group Inc. raised its holdings in Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank's stock valued at $116,038,000 after buying an additional 111,654 shares during the period. American Century Companies Inc. lifted its position in Customers Bancorp by 14.6% in the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank's stock worth $32,954,000 after buying an additional 87,557 shares during the last quarter. Hood River Capital Management LLC boosted its stake in Customers Bancorp by 94.3% during the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank's stock worth $26,344,000 after buying an additional 266,462 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank's stock worth $22,284,000 after acquiring an additional 225,785 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Transactions at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 86,578 shares of the business's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the transaction, the chief executive officer now directly owns 1,090,598 shares in the company, valued at $61,662,410.92. The trade was a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert Neil Mackay sold 4,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the transaction, the director now owns 4,567 shares in the company, valued at $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,440 shares of company stock valued at $5,425,815 over the last 90 days. Corporate insiders own 6.92% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CUBI shares. Stephens upped their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. B. Riley upped their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 4th. StockNews.com lowered Customers Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday. Hovde Group cut shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and set a $49.00 target price on the stock. in a report on Friday, August 9th. Finally, Keefe, Bruyette & Woods downgraded Customers Bancorp from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $57.00 to $52.00 in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Customers Bancorp presently has an average rating of "Hold" and an average target price of $61.11.

Customers Bancorp Stock Performance

Shares of CUBI traded up $0.79 during trading hours on Wednesday, hitting $57.36. The stock had a trading volume of 52,821 shares, compared to its average volume of 369,438. The firm has a 50-day moving average price of $48.82 and a 200 day moving average price of $49.67. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 9.19 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.43 by ($0.09). The business had revenue of $167.10 million for the quarter, compared to analysts' expectations of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business's revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.59 EPS. As a group, research analysts anticipate that Customers Bancorp, Inc. will post 5.63 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.