Mutual of America Capital Management LLC Invests $285,000 in Customers Bancorp, Inc. (NYSE:CUBI)

Mutual of America Capital Management LLC purchased a new position in Customers Bancorp, Inc. (NYSE:CUBI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,948 shares of the bank’s stock, valued at approximately $285,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Wakefield Asset Management LLLP lifted its holdings in shares of Customers Bancorp by 9.3% in the fourth quarter. Wakefield Asset Management LLLP now owns 21,920 shares of the bank’s stock worth $1,263,000 after buying an additional 1,859 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in Customers Bancorp by 58.1% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 5,455 shares of the bank’s stock valued at $322,000 after purchasing an additional 2,004 shares in the last quarter. Advisors Preferred LLC purchased a new stake in Customers Bancorp in the fourth quarter valued at approximately $1,297,000. Sageworth Trust Co purchased a new stake in Customers Bancorp in the fourth quarter valued at approximately $314,000. Finally, Assenagon Asset Management S.A. raised its stake in Customers Bancorp by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock valued at $10,554,000 after purchasing an additional 91,311 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CUBI shares. Raymond James raised their target price on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Jefferies Financial Group lifted their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. B. Riley lifted their price target on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research note on Monday, January 29th. Finally, Wedbush decreased their price target on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, January 26th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and a consensus target price of $61.86.

Insider Transactions at Customers Bancorp

In other news, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the transaction, the chief financial officer now owns 41,224 shares in the company, valued at $2,191,055.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following the sale, the insider now owns 69,428 shares in the company, valued at $3,762,997.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. Company insiders own 9.40% of the company’s stock.

Customers Bancorp Stock Up 2.9 %

Shares of Customers Bancorp stock opened at $50.40 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp, Inc. has a 52-week low of $15.80 and a 52-week high of $60.09. The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 6.89 and a beta of 1.67. The company’s 50 day moving average price is $51.70 and its 200-day moving average price is $48.76.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. The firm had revenue of $191.18 million for the quarter, compared to analysts’ expectations of $187.87 million. Equities research analysts forecast that Customers Bancorp, Inc. will post 6.85 EPS for the current 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.