Y Intercept Hong Kong Ltd Makes New $736,000 Investment in Customers Bancorp, Inc. (NYSE:CUBI)

Y Intercept Hong Kong Ltd bought a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 15,853 shares of the bank's stock, valued at approximately $736,000. Y Intercept Hong Kong Ltd owned about 0.05% of Customers Bancorp as of its most recent SEC filing.

Several other large investors have also made changes to their positions in CUBI. Basswood Capital Management L.L.C. bought a new position in shares of Customers Bancorp during the third quarter worth $26,000. Ridgewood Investments LLC bought a new position in Customers Bancorp during the second quarter worth about $48,000. GAMMA Investing LLC lifted its holdings in Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock worth $73,000 after acquiring an additional 282 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Customers Bancorp in the second quarter worth about $74,000. Finally, Quest Partners LLC raised its position in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock worth $76,000 after purchasing an additional 962 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on CUBI shares. StockNews.com upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, December 1st. Piper Sandler dropped their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating on the stock in a report on Monday, November 4th. B. Riley upped their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods boosted their price target on Customers Bancorp from $52.00 to $62.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Finally, Wedbush downgraded Customers Bancorp from an "outperform" rating to a "neutral" rating and decreased their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Customers Bancorp has a consensus rating of "Moderate Buy" and a consensus target price of $62.22.

Customers Bancorp Stock Up 0.9 %

CUBI stock traded up $0.50 during mid-day trading on Friday, reaching $53.51. The company had a trading volume of 214,480 shares, compared to its average volume of 363,882. The company has a market capitalization of $1.68 billion, a price-to-earnings ratio of 8.69 and a beta of 1.65. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49. The stock has a 50 day simple moving average of $51.14 and a two-hundred day simple moving average of $50.35. 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 released its 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 firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same period in the prior year, the business posted $2.59 earnings per share. Customers Bancorp's quarterly revenue was down 23.2% compared to the same quarter last year. As a group, equities analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Transactions at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 860 shares of the company's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the transaction, the chief executive officer now owns 1,189,738 shares in the company, valued at approximately $65,114,360.74. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the sale, the insider now owns 66,256 shares of the company's stock, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. 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 ninety days. 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.