Crawford Fund Management LLC Sells 54,671 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

Crawford Fund Management LLC lessened its position in Customers Bancorp, Inc. (NYSE:CUBI) by 44.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,353 shares of the bank’s stock after selling 54,671 shares during the quarter. Customers Bancorp comprises about 0.7% of Crawford Fund Management LLC’s investment portfolio, making the stock its 23rd biggest position. Crawford Fund Management LLC owned about 0.21% of Customers Bancorp worth $3,129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $48,000. GAMMA Investing LLC boosted its position in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after buying an additional 282 shares in the last quarter. Innealta Capital LLC acquired a new position in Customers Bancorp in the second quarter valued at about $74,000. Quest Partners LLC boosted its position in Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after buying an additional 962 shares in the last quarter. Finally, CWM LLC boosted its position in Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after buying an additional 274 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on CUBI shares. Piper Sandler reduced their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Stephens upped their target price on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. StockNews.com lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, November 23rd. B. Riley upped their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.11.

Insider Buying and Selling

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the sale, the insider now owns 66,256 shares in the company, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert Neil Mackay sold 4,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This represents a 46.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,440 shares of company stock worth $5,425,815. 6.92% of the stock is owned by insiders.

Customers Bancorp Stock Up 0.5 %

Shares of CUBI stock opened at $56.84 on Friday. The firm has a fifty day moving average of $48.98 and a 200-day moving average of $49.72. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 9.23 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data 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 return on equity of 13.55% and a net margin of 15.22%. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same period in the prior year, the company earned $2.59 EPS. The firm’s revenue was down 23.2% on a year-over-year basis. As a group, equities research analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

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.