Customers Bancorp, Inc. (NYSE:CUBI) Stock Holdings Decreased by Wolverine Asset Management LLC

Wolverine Asset Management LLC reduced its position in Customers Bancorp, Inc. (NYSE:CUBI) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,648 shares of the bank’s stock after selling 13,046 shares during the period. Wolverine Asset Management LLC owned about 0.20% of Customers Bancorp worth $3,001,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Assenagon Asset Management S.A. grew its position in Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after purchasing an additional 225,785 shares in the last quarter. State Street Corp grew its position in Customers Bancorp by 10.5% during the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after purchasing an additional 169,982 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock valued at $13,621,000 after purchasing an additional 90,451 shares in the last quarter. Walleye Capital LLC grew its position in Customers Bancorp by 536.3% during the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock valued at $1,786,000 after purchasing an additional 32,407 shares in the last quarter. Finally, Quantbot Technologies LP grew its position in Customers Bancorp by 94.2% during the third quarter. Quantbot Technologies LP now owns 63,036 shares of the bank’s stock valued at $2,928,000 after purchasing an additional 30,573 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 brokerages recently commented on CUBI. Stephens reaffirmed an “equal weight” rating and set a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. Maxim Group lifted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 27th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. DA Davidson lifted their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $53.16 on Friday. The firm has a fifty day simple moving average of $52.11 and a 200-day simple moving average of $50.56. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a 1-year low of $42.31 and a 1-year high of $68.49. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of 10.47 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. On average, sell-side analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Insider Activity at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 67,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the completion of the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the transaction, the insider now owns 55,211 shares of the company’s stock, 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 sold a total of 115,988 shares of company stock worth $6,627,318 in the last ninety days. 6.92% of the stock is currently owned by insiders.

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.