Louisiana State Employees Retirement System Reduces Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Louisiana State Employees Retirement System decreased its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 1.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 14,100 shares of the bank’s stock after selling 200 shares during the period. Louisiana State Employees Retirement System’s holdings in Customers Bancorp were worth $686,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Sippican Capital Advisors increased its holdings in shares of Customers Bancorp by 34.6% during the fourth quarter. Sippican Capital Advisors now owns 35,769 shares of the bank’s stock valued at $1,741,000 after acquiring an additional 9,190 shares in the last quarter. R Squared Ltd bought a new position in shares of Customers Bancorp during the fourth quarter valued at $42,000. KBC Group NV increased its holdings in shares of Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after acquiring an additional 677 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Customers Bancorp by 5.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,085 shares of the bank’s stock valued at $1,026,000 after acquiring an additional 1,108 shares in the last quarter. Finally, SG Americas Securities LLC increased its holdings in shares of Customers Bancorp by 6.3% during the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock valued at $272,000 after acquiring an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In other news, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the transaction, the chief executive officer now directly owns 965,723 shares of the company’s stock, valued at $54,872,380.86. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock valued at $6,627,318 in the last ninety days. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Trading Down 0.0 %

Shares of NYSE:CUBI opened at $56.96 on Wednesday. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 11.21 and a beta of 1.68. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The stock’s 50-day simple moving average is $52.02 and its two-hundred day simple moving average is $50.49. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Analysts expect that Customers Bancorp, Inc. will post 6.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CUBI shares. Stephens restated an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Piper Sandler reduced their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. DA Davidson lifted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Maxim Group lifted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

About Customers Bancorp

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.