Exchange Traded Concepts LLC Acquires 1,108 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Exchange Traded Concepts LLC lifted its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 5.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 21,085 shares of the bank’s stock after buying an additional 1,108 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Customers Bancorp were worth $1,026,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in Customers Bancorp by 53.1% during the 2nd quarter. Sei Investments Co. now owns 132,048 shares of the bank’s stock valued at $6,336,000 after acquiring an additional 45,818 shares during the period. Bank of Montreal Can grew its holdings in shares of Customers Bancorp by 47.4% in the second quarter. Bank of Montreal Can now owns 8,900 shares of the bank’s stock worth $429,000 after purchasing an additional 2,862 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Customers Bancorp by 5.8% in the second quarter. The Manufacturers Life Insurance Company now owns 15,164 shares of the bank’s stock worth $728,000 after buying an additional 834 shares during the period. Mackenzie Financial Corp increased its stake in shares of Customers Bancorp by 10.4% in the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock worth $281,000 after buying an additional 549 shares during the period. Finally, Susquehanna Fundamental Investments LLC boosted its position in Customers Bancorp by 93.4% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 48,587 shares of the bank’s stock valued at $2,331,000 after buying an additional 23,470 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CUBI shares. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Piper Sandler dropped their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Maxim Group upped their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, Stephens reaffirmed an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. Six investment 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.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.00.

Insider Activity at Customers Bancorp

In related news, 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 directly owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the sale, the chief executive officer now directly owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders 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 Down 2.4 %

Shares of CUBI stock opened at $56.99 on Wednesday. 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, Inc. has a one year low of $42.31 and a one year high of $68.49. The company’s fifty day moving average price is $51.56 and its 200-day moving average price is $51.03. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 9.25 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. Sell-side analysts expect that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

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.