Wellington Management Group LLP Trims Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Wellington Management Group LLP decreased its position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 12.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,816,915 shares of the bank's stock after selling 405,991 shares during the period. Wellington Management Group LLP owned 8.99% of Customers Bancorp worth $130,846,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in shares of 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. State Street Corp boosted its stake in Customers Bancorp by 10.5% in the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank's stock worth $82,773,000 after purchasing an additional 169,982 shares in the last quarter. American Century Companies Inc. grew its position in Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank's stock worth $32,954,000 after purchasing an additional 87,557 shares during the last quarter. Hood River Capital Management LLC increased its stake in 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 purchasing an additional 266,462 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Customers Bancorp by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank's stock worth $23,665,000 after buying an additional 12,000 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CUBI has been the topic of several research analyst reports. Stephens boosted their price target on Customers Bancorp from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. StockNews.com upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, December 1st. Raymond James decreased their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods increased their price objective on shares of Customers Bancorp from $52.00 to $62.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Finally, B. Riley raised their target price 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. Six analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Customers Bancorp currently has a consensus rating of "Moderate Buy" and an average price target of $62.22.

Customers Bancorp Stock Performance

CUBI stock traded down $0.50 during midday trading on Tuesday, hitting $53.31. 230,984 shares of the stock traded hands, compared to its average volume of 365,720. The stock's fifty day simple moving average is $50.44 and its 200-day simple moving average is $50.15. The firm has a market cap of $1.67 billion, a P/E ratio of 8.74 and a beta of 1.65. Customers Bancorp, Inc. has a 1-year low of $42.31 and a 1-year high of $68.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share 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 business had revenue of $167.10 million during the quarter, compared to analysts' expectations of $191.61 million. During the same quarter in the prior year, the firm earned $2.59 EPS. Customers Bancorp's revenue for the quarter was down 23.2% on a year-over-year basis. On average, analysts expect that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Insider Activity

In related news, insider Glenn Hedde sold 5,002 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now directly owns 66,256 shares of the company's stock, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the transaction, the director now directly owns 4,567 shares of the company's stock, valued at $245,613.26. The trade was a 46.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock worth $5,425,815 in the last quarter. Corporate insiders own 6.92% of the company's stock.

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.