Customers Bancorp, Inc. (NYSE:CUBI) Stock Position Lifted by Sippican Capital Advisors

Sippican Capital Advisors grew its position in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 140.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,579 shares of the bank’s stock after buying an additional 15,510 shares during the period. Sippican Capital Advisors’ holdings in Customers Bancorp were worth $1,235,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in Customers Bancorp by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after buying an additional 21,302 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after buying an additional 111,654 shares during the last quarter. American Century Companies Inc. lifted its holdings in Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after buying an additional 87,557 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Customers Bancorp by 94.3% in the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after purchasing an additional 266,462 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after purchasing an additional 225,785 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,500 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the purchase, the chief executive officer now owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 6.92% of the stock is currently owned by corporate insiders.

Customers Bancorp Stock Up 0.0 %

NYSE CUBI traded up $0.01 during trading on Thursday, hitting $45.67. 9,240 shares of the company traded hands, compared to its average volume of 358,222. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. The business has a fifty day simple moving average of $47.47 and a 200 day simple moving average of $48.96. The company has a market capitalization of $1.45 billion, a P/E ratio of 6.37 and a beta of 1.61. Customers Bancorp, Inc. has a 12 month low of $38.69 and a 12 month high of $68.49.

Analyst Ratings Changes

CUBI has been the topic of several research analyst reports. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Jefferies Financial Group reduced their price objective on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods reduced their price objective on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. DA Davidson raised their price objective on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Raymond James decreased their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $62.00.

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.