Victory Capital Management Inc. Reduces Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Victory Capital Management Inc. cut its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 77.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,386 shares of the bank's stock after selling 18,420 shares during the period. Victory Capital Management Inc.'s holdings in Customers Bancorp were worth $262,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CUBI. Sanctuary Advisors LLC lifted its position in shares of Customers Bancorp by 3.2% during the 4th quarter. Sanctuary Advisors LLC now owns 9,714 shares of the bank's stock valued at $473,000 after acquiring an additional 302 shares during the period. SG Americas Securities LLC increased its position in shares of Customers Bancorp by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank's stock worth $272,000 after acquiring an additional 333 shares in the last quarter. Basswood Capital Management L.L.C. acquired a new position in Customers Bancorp during the 3rd quarter valued at about $26,000. KBC Group NV increased its holdings in Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank's stock worth $73,000 after purchasing an additional 677 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its stake in shares of Customers Bancorp by 5.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 16,624 shares of the bank's stock worth $809,000 after purchasing an additional 794 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Performance

Shares of CUBI traded down $0.26 during mid-day trading on Wednesday, hitting $52.14. The stock had a trading volume of 178,857 shares, compared to its average volume of 348,396. The firm has a market cap of $1.64 billion, a P/E ratio of 10.26 and a beta of 1.74. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The business has a fifty day moving average price of $53.46 and a 200-day moving average price of $50.91.

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Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating 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.

Insider Transactions at Customers Bancorp

In related news, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the transaction, the insider now owns 55,211 shares in the company, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay S. Sidhu sold 33,173 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $57.25, for a total value of $1,899,154.25. Following the sale, the chief executive officer now owns 1,032,723 shares of the company's stock, valued at $59,123,391.75. This represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CUBI shares. Keefe, Bruyette & Woods upped their price target on Customers Bancorp from $62.00 to $67.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. DA Davidson increased their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Maxim Group boosted their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Stephens restated an "equal weight" rating and issued a $58.00 target price on shares of Customers Bancorp in a research note on Friday, January 24th. Finally, StockNews.com raised Customers Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, December 1st. Six investment 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 data from MarketBeat.com, Customers Bancorp currently has an average rating of "Moderate Buy" and a consensus price target of $64.00.

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.