Foundry Partners LLC sells 5,060 shares of Bancorp, Inc. clients (NYSE: CUBI)
Foundry Partners LLC reduced its position in Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) by 56.3% in Q1, according to the company in its latest 13F filing with the SEC. The institutional investor held 3,925 shares of the bank after selling 5,060 shares during the quarter. Foundry Partners LLC’s holdings in Customers Bancorp were worth $205,000 when it last filed with the SEC.
Several other hedge funds and other institutional investors have also recently changed their positions in CUBI. Point72 Hong Kong Ltd bought a new stake in shares of Customers Bancorp in Q4, valued at around $34,000. Lazard Asset Management LLC increased its stake in Customers Bancorp shares by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank valued at $44,000 after buying an additional 284 shares last quarter. National Bank of Canada FI purchased a new stake in Customers Bancorp stock in Q4 valued at approximately $87,000. Point72 Asset Management LP bought a new stake in Customers Bancorp stock in Q4, valued at around $92,000. Finally, Captrust Financial Advisors increased its position in Customers Bancorp by 9.0% during the third quarter. Captrust Financial Advisors now owns 2,801 shares of the bank worth $120,000 after buying 231 additional shares during the period. 83.48% of the shares are held by institutional investors and hedge funds.
Shares of CUBI stock opened at $35.18 on Monday. Bancorp, Inc. Clients has a 12-month low of $32.19 and a 12-month high of $76.13. The company has a market capitalization of $1.16 billion, a PE ratio of 3.51 and a beta of 1.58. The stock has a 50-day moving average of $39.79 and a 200-day moving average of $52.49. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt ratio of 0.15.
Bancorp Customers (NYSE: CUBI – Get a rating) last reported results on Wednesday, April 27. The bank reported EPS of $2.19 for the quarter, beating consensus analyst estimates of $1.66 by $0.53. The company posted revenue of $185.90 million in the quarter, compared to analyst estimates of $170.48 million. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%. As a group, stock analysts predict Customers Bancorp, Inc. will post EPS of 7.19 for the current fiscal year.
Separately, Chief Financial Officer Carla A. Leibold acquired 1,000 shares of the company in a transaction on Friday, May 6. The shares were purchased at an average cost of $42.10 per share, for a total transaction of $42,100.00. Following the completion of the purchase, the CFO now directly owns 68,348 shares of the company, valued at approximately $2,877,450.80. The transaction was disclosed in an SEC filing, which is available via the SEC website. Additionally, CEO Samvir S. Sidhu acquired 2,965 shares of the company in a transaction on Friday, May 6. The shares were purchased at an average price of $42.10 per share, with a total value of $124,826.50. Following the completion of the purchase, the CEO now directly owns 80,637 shares of the company, valued at $3,394,817.70. Disclosure of this purchase can be found here. Insiders have purchased 4,465 shares of the company worth $186,912 over the past 90 days. 6.75% of the shares are currently held by company insiders.
A number of equity research analysts have published reports on CUBI shares. B. Riley reduced his target price on Customers Bancorp from $100.00 to $90.00 in a Tuesday, April 12 research report. Stephens began covering Customers Bancorp in a research report on Monday, March 28. They set an “equal weight” rating and a target price of $62.50 for the company. StockNews.com began covering Customers Bancorp in a research report on Thursday, March 31. They set a “holding” rating for the company. Maxim Group reaffirmed a “buy” rating and set a target price of $85.00 on Customers Bancorp stock in a Friday, April 29 research report. Finally, Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performance” rating to an “outperform” rating and increased its target price for the stock from $72.00 to $80.00 in a research report from Monday, March 28. Four research analysts gave the stock a hold rating and five gave the stock a buy rating. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $72.36.
Bancorp Clients Profile (Get a rating)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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