69,417 Shares in Customers Bancorp, Inc. (NYSE:CUBI) Purchased by First Eagle Investment Management LLC

First Eagle Investment Management LLC bought a new position in Customers Bancorp, Inc. (NYSE:CUBI) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 69,417 shares of the bank’s stock, valued at approximately $3,379,000. First Eagle Investment Management LLC owned about 0.22% of Customers Bancorp at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in CUBI. Los Angeles Capital Management LLC acquired a new stake in shares of Customers Bancorp in the 3rd quarter worth about $294,000. Empowered Funds LLC raised its holdings in shares of Customers Bancorp by 5.2% in the 3rd quarter. Empowered Funds LLC now owns 21,640 shares of the bank’s stock worth $1,005,000 after acquiring an additional 1,072 shares during the last quarter. Quest Partners LLC raised 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 acquiring an additional 962 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Customers Bancorp by 176.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,965 shares of the bank’s stock worth $927,000 after acquiring an additional 12,739 shares during the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Customers Bancorp by 74.2% in 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. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Trading Up 3.4 %

Shares of CUBI stock opened at $50.77 on Friday. The company has a 50 day moving average of $52.83 and a 200-day moving average of $50.84. 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. The firm has a market cap of $1.60 billion, a P/E ratio of 9.99 and a beta of 1.74.

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%. Sell-side analysts anticipate that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Insider Buying and Selling

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the transaction, the chief executive officer now directly owns 965,723 shares of the company’s stock, valued at $54,872,380.86. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Glenn Hedde sold 15,815 shares of the firm’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 completion of the transaction, the insider now directly 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. In the last ninety days, insiders sold 115,988 shares of company stock valued at $6,627,318. Company insiders own 6.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Stephens reiterated an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a research note on Friday, January 24th. Keefe, Bruyette & Woods increased their price objective 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. DA Davidson increased their price objective 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. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Finally, Maxim Group increased their price objective 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. Six 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.