AlphaQuest LLC Has $680,000 Stake in Customers Bancorp, Inc. (NYSE:CUBI)

AlphaQuest LLC grew its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 755.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,966 shares of the bank’s stock after purchasing an additional 12,333 shares during the period. AlphaQuest LLC’s holdings in Customers Bancorp were worth $680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in CUBI. Los Angeles Capital Management LLC bought a new stake in shares of Customers Bancorp during the third quarter worth $294,000. Wolverine Asset Management LLC bought a new stake in Customers Bancorp during the 3rd quarter worth $3,470,000. GSA Capital Partners LLP raised its position in Customers Bancorp by 10.5% in the third quarter. GSA Capital Partners LLP now owns 30,001 shares of the bank’s stock valued at $1,394,000 after purchasing an additional 2,857 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Customers Bancorp by 5.2% during the third quarter. Empowered Funds LLC now owns 21,640 shares of the bank’s stock valued at $1,005,000 after purchasing an additional 1,072 shares in the last quarter. Finally, Quest Partners LLC grew its holdings in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction on 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 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 33,173 shares of Customers Bancorp stock in a transaction on Friday, January 31st. The shares were sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the completion of the sale, the chief executive officer now directly owns 1,032,723 shares of the company’s stock, valued at approximately $59,123,391.75. This trade represents a 3.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,988 shares of company stock valued at $6,627,318. Corporate insiders own 6.92% of the company’s stock.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $48.33 on Wednesday. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49. The firm has a fifty day simple moving average of $52.74 and a 200 day simple moving average of $50.87. The company has a market capitalization of $1.52 billion, a PE ratio of 9.51 and a beta of 1.74. 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 (NYSE:CUBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on CUBI shares. Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Stephens reissued an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a research note on Friday, January 24th. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Maxim Group upped their price target on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, DA Davidson lifted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Six equities research 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Customers Bancorp Company 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.