Pacific Ridge Capital Partners LLC Purchases 2,797 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Pacific Ridge Capital Partners LLC grew its position in Customers Bancorp, Inc. (NYSE:CUBI) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,880 shares of the bank’s stock after purchasing an additional 2,797 shares during the period. Pacific Ridge Capital Partners LLC owned about 0.08% of Customers Bancorp worth $1,260,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Quest Partners LLC increased its stake in Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after buying an additional 962 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Customers Bancorp by 176.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,965 shares of the bank’s stock valued at $927,000 after acquiring an additional 12,739 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Customers Bancorp by 74.2% during the third quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock worth $1,177,000 after acquiring an additional 10,797 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Customers Bancorp by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Citigroup Inc. grew its stake in Customers Bancorp by 16.4% in 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. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $52.14 on Thursday. The firm has a market capitalization of $1.64 billion, a P/E ratio of 10.26 and a beta of 1.74. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The business has a fifty day moving average price of $53.53 and a 200-day moving average price of $50.92.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. As a group, equities research analysts forecast that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of Customers Bancorp 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 sale, the insider now owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,988 shares of company stock valued at $6,627,318. Company insiders own 6.92% of the company’s stock.

Customers Bancorp 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.