Customers Bancorp, Inc. (NYSE:CUBI) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its position in Customers Bancorp, Inc. (NYSE:CUBI) by 4.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,910 shares of the bank’s stock after selling 1,315 shares during the quarter. Janus Henderson Group PLC owned approximately 0.09% of Customers Bancorp worth $1,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Basswood Capital Management L.L.C. acquired a new position in shares of Customers Bancorp in the third quarter valued at approximately $26,000. Ridgewood Investments LLC acquired a new position in shares of Customers Bancorp in the second quarter worth $48,000. GAMMA Investing LLC grew its stake in shares of Customers Bancorp by 21.7% in 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 purchased a new stake in shares of Customers Bancorp during the second quarter worth $74,000. Finally, Quest Partners LLC raised its stake in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after acquiring an additional 962 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Customers Bancorp

In other news, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now owns 66,256 shares of the company’s stock, valued at $3,556,622.08. This represents a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jay S. Sidhu sold 86,578 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the transaction, the chief executive officer now directly owns 1,090,598 shares in the company, valued at $61,662,410.92. This trade represents a 7.35 % 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 valued at $5,425,815 over the last quarter. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $53.51 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49. The company has a market cap of $1.68 billion, a P/E ratio of 8.69 and a beta of 1.65. The company has a 50-day moving average price of $51.14 and a 200 day moving average price of $50.31.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). The firm had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company’s quarterly revenue was down 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.59 EPS. Research analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CUBI. Stephens upped their price target on Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Piper Sandler reduced their target price 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. Keefe, Bruyette & Woods raised their price objective on shares of Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. B. Riley increased their target price on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Six analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.22.

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.