Illinois Municipal Retirement Fund Increases Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Illinois Municipal Retirement Fund increased its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 5.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,624 shares of the bank’s stock after acquiring an additional 794 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Customers Bancorp were worth $809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Intech Investment Management LLC boosted its holdings 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 acquiring an additional 10,797 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Customers Bancorp by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock valued at $1,878,000 after purchasing an additional 21,871 shares during the last quarter. Walleye Capital LLC lifted its position 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 valued at $1,786,000 after purchasing an additional 32,407 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Customers Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Barclays PLC grew its position in Customers Bancorp by 46.9% in the 3rd quarter. Barclays PLC now owns 89,879 shares of the bank’s stock worth $4,175,000 after purchasing an additional 28,683 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Jay S. Sidhu sold 33,173 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the completion of the transaction, the chief executive officer now owns 1,032,723 shares of the company’s stock, valued at approximately $59,123,391.75. The trade was a 3.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of the sale, the insider now owns 55,211 shares in the company, valued at $3,216,040.75. This represents 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

Shares of NYSE:CUBI opened at $52.58 on Tuesday. The firm has a market capitalization of $1.65 billion, a PE ratio of 10.35 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. The company has a 50-day moving average price of $52.51 and a two-hundred day moving average price of $50.77. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. Equities analysts forecast that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on CUBI shares. B. Riley boosted their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Keefe, Bruyette & Woods raised 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. Maxim Group boosted their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, DA Davidson increased their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $64.00.

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.