Wellington Management Group LLP Sells 186,470 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Wellington Management Group LLP lowered its position in Customers Bancorp, Inc. (NYSE:CUBI - Free Report) by 6.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,630,445 shares of the bank's stock after selling 186,470 shares during the quarter. Wellington Management Group LLP owned approximately 8.36% of Customers Bancorp worth $128,050,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Customers Bancorp by 10.5% in the 3rd 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. American Century Companies Inc. increased its position in Customers Bancorp by 5.9% during the fourth quarter. American Century Companies Inc. now owns 773,772 shares of the bank's stock worth $37,667,000 after buying an additional 42,965 shares during the last quarter. Geode Capital Management LLC raised its stake in Customers Bancorp by 2.7% in the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank's stock valued at $31,924,000 after buying an additional 17,941 shares during the period. Charles Schwab Investment Management Inc. lifted its position 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 valued at $23,665,000 after buying an additional 12,000 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Customers Bancorp by 33.1% during the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank's stock worth $20,912,000 after acquiring an additional 106,895 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CUBI. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a "market perform" rating in a report on Monday, January 27th. Stephens reissued an "equal weight" rating and issued a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson lifted their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Monday, January 27th. Finally, Maxim Group increased their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Customers Bancorp presently has an average rating of "Moderate Buy" and an average target price of $64.00.

Insider Activity

In related news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jay S. Sidhu sold 67,000 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the transaction, the chief executive officer now owns 965,723 shares of the company's stock, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 115,988 shares of company stock worth $6,627,318. 6.92% of the stock is currently owned by company insiders.

Customers Bancorp Stock Performance

Customers Bancorp stock traded up $1.46 during midday trading on Tuesday, hitting $44.86. The company's stock had a trading volume of 73,365 shares, compared to its average volume of 302,245. 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 company has a market cap of $1.41 billion, a price-to-earnings ratio of 8.84 and a beta of 1.47. Customers Bancorp, Inc. has a 1-year low of $40.75 and a 1-year high of $68.49. The company has a 50-day moving average price of $52.95 and a two-hundred day moving average price of $50.93.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly 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 net margin of 13.07% and a return on equity of 12.29%. As a group, sell-side analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current 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.