Thrivent Financial for Lutherans Trims Stock Position in Customers Bancorp, Inc. (NYSE:CUBI)

Thrivent Financial for Lutherans trimmed its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 3.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,125 shares of the bank’s stock after selling 2,348 shares during the period. Thrivent Financial for Lutherans owned approximately 0.22% of Customers Bancorp worth $3,211,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC grew its holdings in shares of Customers Bancorp by 5.2% during the third quarter. Empowered Funds LLC now owns 21,640 shares of the bank’s stock worth $1,005,000 after purchasing an additional 1,072 shares during the last quarter. GSA Capital Partners LLP grew its stake in Customers Bancorp by 10.5% during the 3rd quarter. GSA Capital Partners LLP now owns 30,001 shares of the bank’s stock worth $1,394,000 after buying an additional 2,857 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Customers Bancorp during the third quarter worth approximately $3,470,000. Los Angeles Capital Management LLC acquired a new position in Customers Bancorp during the third quarter worth approximately $294,000. Finally, Olympiad Research LP purchased a new stake in Customers Bancorp in the third quarter valued at approximately $332,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Stephens lifted their target price 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. DA Davidson lifted their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $57.00 to $52.00 in a research note on Monday, November 4th. StockNews.com cut Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $61.11.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at approximately $61,662,410.92. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This represents a 46.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,440 shares of company stock valued at $5,425,815. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Stock Up 2.8 %

CUBI opened at $57.67 on Tuesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The business has a 50 day simple moving average of $48.47 and a 200-day simple moving average of $49.55. The stock has a market capitalization of $1.81 billion, a P/E ratio of 9.36 and a beta of 1.61. Customers Bancorp, Inc. has a 12 month low of $42.31 and a 12 month high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. 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 previous year, the company posted $2.59 EPS. The company’s revenue was down 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Customers Bancorp 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.