TD Asset Management Inc Sells 3,400 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

TD Asset Management Inc decreased its position in Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) by 10.3% in the fourth quarter, Holdings Channel reports. The firm owned 29,700 shares of the bank’s stock after selling 3,400 shares during the period. TD Asset Management Inc’s holdings in Customers Bancorp were worth $842,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Customers Bancorp by 3.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,783 shares of the bank’s stock valued at $366,000 after acquiring an additional 328 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in Customers Bancorp by 1.6% during the fourth quarter. SummerHaven Investment Management LLC now owns 22,352 shares of the bank’s stock worth $633,000 after purchasing an additional 350 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Customers Bancorp by 1.5% in the first quarter. Great West Life Assurance Co. Can now owns 26,354 shares of the bank’s stock valued at $1,410,000 after buying an additional 398 shares in the last quarter. Legal & General Group Plc increased its position in shares of Customers Bancorp by 0.7% in the second quarter. Legal & General Group Plc now owns 73,595 shares of the bank’s stock valued at $2,495,000 after buying an additional 486 shares in the last quarter. Finally, Point72 Hong Kong Ltd lifted its holdings in Customers Bancorp by 25.2% during the third quarter. Point72 Hong Kong Ltd now owns 3,021 shares of the bank’s stock valued at $89,000 after purchasing an additional 609 shares in the last quarter. Institutional investors own 84.33% of the company’s stock.

Insider Activity

In other Customers Bancorp news, Director Daniel K. Rothermel bought 5,000 shares of Customers Bancorp stock in a transaction on Monday, March 13th. The shares were bought at an average cost of $10.71 per share, for a total transaction of $53,550.00. Following the acquisition, the director now directly owns 102,962 shares in the company, valued at $1,102,723.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Jay S. Sidhu purchased 45,450 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average price of $11.00 per share, for a total transaction of $499,950.00. Following the completion of the purchase, the chief executive officer now directly owns 1,167,626 shares of the company’s stock, valued at $12,843,886. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Daniel K. Rothermel acquired 5,000 shares of Customers Bancorp stock in a transaction dated Monday, March 13th. The stock was purchased at an average price of $10.71 per share, for a total transaction of $53,550.00. Following the completion of the acquisition, the director now directly owns 102,962 shares in the company, valued at approximately $1,102,723.02. The disclosure for this purchase can be found here. Insiders own 6.75% of the company’s stock.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $17.09 on Thursday. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.95 and a quick ratio of 0.92. The stock has a market capitalization of $534.06 million, a price-to-earnings ratio of 2.92 and a beta of 1.51. The business has a 50-day moving average of $19.67 and a 200 day moving average of $26.81. Customers Bancorp, Inc. has a 12 month low of $6.87 and a 12 month high of $41.85.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. TheStreet downgraded shares of Customers Bancorp from a “b-” rating to a “c+” rating in a research note on Friday, March 17th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Keefe, Bruyette & Woods lowered their price objective on Customers Bancorp from $51.00 to $45.00 and set an “outperform” rating for the company in a research report on Thursday, April 6th. Finally, Maxim Group upped their price target on Customers Bancorp from $40.00 to $45.00 in a research note on Monday, May 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $50.13.

Customers Bancorp Company Profile

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Customers Bancorp, Inc engages in the provision of banking services through its subsidiary, Customers Bank. The firm also provides banking products such as loans and deposits to businesses and consumers through its branches, limited production, and administrative offices. The company was founded in 1997 and is headquartered in West Reading, PA.