Harbor Advisors LLC Grows Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Harbor Advisors LLC grew its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 33.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,450 shares of the bank’s stock after acquiring an additional 11,075 shares during the period. Harbor Advisors LLC owned about 0.14% of Customers Bancorp worth $2,164,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Fox Run Management L.L.C. purchased a new stake in shares of Customers Bancorp in the 4th quarter valued at $548,000. KLP Kapitalforvaltning AS purchased a new stake in Customers Bancorp during the fourth quarter worth $789,000. American Century Companies Inc. boosted its holdings in Customers Bancorp by 5.9% during the fourth quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock worth $37,667,000 after buying an additional 42,965 shares in the last quarter. Intech Investment Management LLC boosted its holdings in Customers Bancorp by 120.6% during the fourth quarter. Intech Investment Management LLC now owns 55,916 shares of the bank’s stock worth $2,722,000 after buying an additional 30,567 shares in the last quarter. Finally, Royce & Associates LP boosted its holdings in Customers Bancorp by 17.6% during the fourth quarter. Royce & Associates LP now owns 252,590 shares of the bank’s stock worth $12,296,000 after buying an additional 37,788 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $51.59 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The company has a fifty day moving average of $53.22 and a two-hundred day moving average of $50.84. The stock has a market capitalization of $1.62 billion, a PE ratio of 10.16 and a beta of 1.74. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 23rd. The bank reported $1.36 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%. As a group, research analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay S. Sidhu sold 67,000 shares of the company’s stock in a transaction dated 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 directly owns 965,723 shares of the company’s stock, valued at $54,872,380.86. This represents a 6.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,988 shares of company stock worth $6,627,318 over the last three months. Insiders own 6.92% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target 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. DA Davidson increased their price target 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. Stephens reissued an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Finally, Maxim Group increased 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. Six investment 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. According to MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and an average price target of $64.00.

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.