De Lisle Partners LLP Sells 10,000 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

De Lisle Partners LLP cut its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 19.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,020 shares of the bank’s stock after selling 10,000 shares during the period. De Lisle Partners LLP owned 0.13% of Customers Bancorp worth $1,951,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CUBI. BNP Paribas Financial Markets grew its stake in shares of Customers Bancorp by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock valued at $1,878,000 after acquiring an additional 21,871 shares during the period. FMR LLC boosted its position in shares of Customers Bancorp by 112.3% in the third quarter. FMR LLC now owns 15,720 shares of the bank’s stock worth $730,000 after purchasing an additional 8,314 shares during the period. Quantbot Technologies LP increased its stake in shares of Customers Bancorp by 94.2% in the third quarter. Quantbot Technologies LP now owns 63,036 shares of the bank’s stock worth $2,928,000 after purchasing an additional 30,573 shares in the last quarter. Citigroup Inc. raised its position in shares of Customers Bancorp by 16.4% during the 3rd quarter. Citigroup Inc. now owns 107,596 shares of the bank’s stock valued at $4,998,000 after purchasing an additional 15,161 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Customers Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after buying an additional 12,000 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

Customers Bancorp stock opened at $56.84 on Thursday. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The company’s 50-day moving average price is $48.82 and its 200-day moving average price is $49.67. The company has a market cap of $1.78 billion, a PE ratio of 9.23 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). The business had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The company’s quarterly revenue was down 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.59 earnings per share. On average, equities research analysts forecast that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total transaction of $47,067.80. Following the completion of the sale, the chief executive officer now directly owns 1,189,738 shares of the company’s stock, valued at $65,114,360.74. The trade was a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,440 shares of company stock worth $5,425,815 in the last 90 days. 6.92% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Raymond James cut their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 2nd. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Piper Sandler dropped their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Keefe, Bruyette & Woods cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $57.00 to $52.00 in a research 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 research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Customers Bancorp has a consensus rating of “Hold” and a consensus target price of $61.11.

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.