Quantbot Technologies LP Boosts Position in Customers Bancorp, Inc. (NYSE:CUBI)

Quantbot Technologies LP grew its position in Customers Bancorp, Inc. (NYSE:CUBI) by 94.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,036 shares of the bank’s stock after buying an additional 30,573 shares during the quarter. Quantbot Technologies LP’s holdings in Customers Bancorp were worth $2,928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in CUBI. CWM LLC increased its holdings in Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after acquiring an additional 274 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Customers Bancorp by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock worth $686,000 after purchasing an additional 300 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Customers Bancorp by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after buying an additional 341 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in Customers Bancorp by 10.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after buying an additional 549 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Price Performance

CUBI stock opened at $56.84 on Thursday. The stock has a 50-day moving average price of $48.82 and a two-hundred day moving average price of $49.67. The company has a market cap of $1.78 billion, a PE ratio of 9.23 and a beta of 1.61. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same period last year, the company posted $2.59 EPS. As a group, research analysts predict that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. StockNews.com cut Customers Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd. Raymond James reduced their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $57.00 to $52.00 in a research report on Monday, November 4th. Finally, Stephens raised their target price on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $61.11.

Insider Activity

In related news, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the transaction, the insider now directly owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. The trade was a 7.02 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the sale, the director now directly owns 4,567 shares of the company’s stock, valued at $245,613.26. This trade represents a 46.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,440 shares of company stock valued at $5,425,815. Company insiders own 6.92% of the company’s stock.

Customers Bancorp Company 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.