Proficio Capital Partners LLC Buys New Position in Customers Bancorp, Inc. (NYSE:CUBI)

Proficio Capital Partners LLC acquired a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,239 shares of the bank’s stock, valued at approximately $1,277,000.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Basswood Capital Management L.L.C. purchased a new position in shares of Customers Bancorp during the 3rd quarter valued at approximately $26,000. R Squared Ltd acquired a new stake in Customers Bancorp in the fourth quarter worth $42,000. KBC Group NV increased its position in Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after buying an additional 677 shares during the period. Quest Partners LLC increased its holdings in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares during the period. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Customers Bancorp by 323.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after purchasing an additional 1,255 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Activity

In other news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 33,173 shares of Customers Bancorp stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $57.25, for a total value of $1,899,154.25. Following the transaction, the chief executive officer now directly owns 1,032,723 shares in the company, valued at $59,123,391.75. The trade was a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Analyst Ratings Changes

Several research analysts recently weighed in on CUBI shares. Stephens reaffirmed an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a research note on Friday, January 24th. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Maxim Group raised their price target on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note 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, DA Davidson raised their price objective on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Customers Bancorp Stock Down 0.6 %

Shares of Customers Bancorp stock opened at $51.26 on Friday. The business’s 50 day simple moving average is $53.10 and its 200 day simple moving average is $50.84. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. The firm has a market cap of $1.61 billion, a PE ratio of 10.09 and a beta of 1.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96.

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 12.29% and a net margin of 13.07%. On average, analysts predict that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal 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.