Prudential Financial Inc. Has $6.98 Million Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Prudential Financial Inc. reduced its position in Customers Bancorp, Inc. (NYSE:CUBI) by 21.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 143,293 shares of the bank’s stock after selling 38,710 shares during the period. Prudential Financial Inc.’s holdings in Customers Bancorp were worth $6,976,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Tieton Capital Management LLC increased its position in Customers Bancorp by 22.9% in the fourth quarter. Tieton Capital Management LLC now owns 290,373 shares of the bank’s stock worth $14,135,000 after purchasing an additional 54,170 shares during the period. Harbor Advisors LLC grew its position in shares of Customers Bancorp by 33.2% during the 4th quarter. Harbor Advisors LLC now owns 44,450 shares of the bank’s stock worth $2,164,000 after buying an additional 11,075 shares during the period. Fox Run Management L.L.C. acquired a new stake in shares of Customers Bancorp during the 4th quarter worth approximately $548,000. KLP Kapitalforvaltning AS bought a new stake in shares of Customers Bancorp during the fourth quarter worth approximately $789,000. Finally, American Century Companies Inc. lifted its holdings in Customers Bancorp by 5.9% in the fourth quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock valued at $37,667,000 after buying an additional 42,965 shares during the period. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Down 3.3 %

Shares of CUBI stock opened at $50.17 on Monday. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a fifty day moving average of $53.59 and a 200-day moving average of $50.97. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.88 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. As a group, equities research analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on CUBI. Stephens reiterated an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. Keefe, Bruyette & Woods upped their price objective on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, January 27th. DA Davidson raised their target price on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Finally, Maxim Group lifted their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Insider Activity at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 67,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the transaction, the chief executive officer now owns 965,723 shares in the company, valued at $54,872,380.86. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is owned by insiders.

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.