Wolverine Asset Management LLC Sells 13,046 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Basswood Capital Management L.L.C. bought a new stake in Customers Bancorp in the 3rd quarter valued at $26,000. R Squared Ltd bought a new stake in Customers Bancorp in the 4th quarter valued at $42,000. KBC Group NV increased its holdings in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after buying an additional 677 shares during the period. Quest Partners LLC grew its holdings in shares of Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the last quarter. Finally, Point72 DIFC Ltd bought a new stake in shares of Customers Bancorp in the 3rd quarter worth about $84,000. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. DA Davidson upped their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods upped their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Piper Sandler lowered their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, B. Riley upped their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Stock Down 4.5 %

Shares of NYSE CUBI opened at $53.16 on Friday. The firm’s 50-day simple moving average is $52.11 and its 200 day simple moving average is $50.56. The company has a market cap of $1.67 billion, a price-to-earnings ratio of 10.47 and a beta of 1.68. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating 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, research analysts expect that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 965,723 shares in the company, valued at $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 115,988 shares of company stock worth $6,627,318. Company insiders own 6.92% of the company’s stock.

About Customers Bancorp

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.