Illinois Municipal Retirement Fund Acquires 794 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Illinois Municipal Retirement Fund raised its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 5.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,624 shares of the bank’s stock after acquiring an additional 794 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.05% of Customers Bancorp worth $809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC increased its position in Customers Bancorp by 74.2% during the 3rd quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock worth $1,177,000 after purchasing an additional 10,797 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Customers Bancorp by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock worth $1,878,000 after buying an additional 21,871 shares during the last quarter. Walleye Capital LLC increased its holdings in shares of Customers Bancorp by 536.3% during the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock worth $1,786,000 after buying an additional 32,407 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Customers Bancorp by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after acquiring an additional 12,000 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Customers Bancorp by 46.9% during the 3rd quarter. Barclays PLC now owns 89,879 shares of the bank’s stock valued at $4,175,000 after acquiring an additional 28,683 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CUBI shares. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. DA Davidson upped 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. B. Riley lifted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Piper Sandler decreased their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Stephens reiterated an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Six equities research 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

Insiders Place Their Bets

In other news, CEO Jay S. Sidhu sold 67,000 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Glenn Hedde sold 15,815 shares of the business’s 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 completion of the sale, the insider now directly owns 55,211 shares of the company’s stock, valued at $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. Over the last three months, insiders sold 115,988 shares of company stock worth $6,627,318. 6.92% of the stock is owned by corporate insiders.

Customers Bancorp Price Performance

CUBI stock opened at $52.58 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 10.35 and a beta of 1.68. The company’s fifty day simple moving average is $52.51 and its 200 day simple moving average is $50.77. 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 quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share 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%. On average, analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share 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.