South Dakota Investment Council Has $7.47 Million Stake in Customers Bancorp, Inc $CUBI

South Dakota Investment Council reduced its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 13.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 107,604 shares of the bank’s stock after selling 16,334 shares during the quarter. South Dakota Investment Council’s holdings in Customers Bancorp were worth $7,469,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in CUBI. Lido Advisors LLC boosted its position in Customers Bancorp by 3.0% during the fourth quarter. Lido Advisors LLC now owns 6,135 shares of the bank’s stock worth $412,000 after purchasing an additional 178 shares during the period. Alliancebernstein L.P. raised its position in shares of Customers Bancorp by 0.5% in the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock valued at $2,226,000 after purchasing an additional 182 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Customers Bancorp by 1.3% during the 4th quarter. MetLife Investment Management LLC now owns 17,625 shares of the bank’s stock worth $1,289,000 after buying an additional 230 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after buying an additional 232 shares during the period. Finally, Arax Advisory Partners boosted its holdings in shares of Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after buying an additional 243 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Chairman Jay S. Sidhu sold 60,315 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the sale, the chairman directly owned 767,557 shares of the company’s stock, valued at approximately $58,510,870.11. This represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Samvir S. Sidhu bought 1,000 shares of Customers Bancorp stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the acquisition, the chief executive officer owned 521,714 shares in the company, valued at $37,866,002.12. This represents a 0.19% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 10.45% of the company’s stock.

Customers Bancorp Stock Down 0.5%

Shares of CUBI opened at $78.30 on Friday. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $82.56. The firm’s 50 day moving average is $76.76 and its 200-day moving average is $74.52. The stock has a market capitalization of $2.65 billion, a PE ratio of 9.55 and a beta of 1.48. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. The company had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 earnings per share. Equities research analysts forecast that Customers Bancorp, Inc will post 8.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. DA Davidson boosted their price objective on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday. Fundamental Research set a $94.00 target price on Customers Bancorp in a research report on Wednesday, July 1st. Hovde Group increased their target price on Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Customers Bancorp presently has an average rating of “Moderate Buy” and a consensus price target of $90.15.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.