De Lisle Partners LLP Decreases Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

De Lisle Partners LLP lowered its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 19.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,020 shares of the bank’s stock after selling 10,000 shares during the quarter. De Lisle Partners LLP’s holdings in Customers Bancorp were worth $1,951,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Hood River Capital Management LLC boosted its position in shares of Customers Bancorp by 94.3% in the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after purchasing an additional 266,462 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after acquiring an additional 225,785 shares during the last quarter. Peregrine Capital Management LLC acquired a new position in shares of Customers Bancorp during the second quarter valued at about $7,690,000. Vanguard Group Inc. boosted its stake in Customers Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after purchasing an additional 111,654 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after purchasing an additional 87,557 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Up 0.5 %

Customers Bancorp stock opened at $56.84 on Thursday. The stock has a market capitalization of $1.78 billion, a PE ratio of 9.23 and a beta of 1.61. The business has a 50 day simple moving average of $48.82 and a 200-day simple moving average of $49.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. Customers Bancorp, Inc. has a 12 month low of $42.31 and a 12 month high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same quarter last year, the business earned $2.59 EPS. The firm’s revenue for the quarter was down 23.2% compared to the same quarter last year. On average, analysts anticipate that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the completion of the sale, the chief executive officer now owns 1,090,598 shares of the company’s stock, valued at $61,662,410.92. This represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the sale, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. The trade was a 7.02 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,440 shares of company stock worth $5,425,815. Insiders own 6.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CUBI shares. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. B. Riley upped their target price on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, November 23rd. Raymond James cut their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Piper Sandler cut their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Customers Bancorp presently has a consensus rating of “Hold” and a consensus target price of $61.11.

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.