Y Intercept Hong Kong Ltd Invests $736,000 in Customers Bancorp, Inc. (NYSE:CUBI)

Y Intercept Hong Kong Ltd bought a new position in shares of Customers Bancorp, Inc. (NYSE:CUBI) in the 3rd quarter, HoldingsChannel.com reports. The firm bought 15,853 shares of the bank’s stock, valued at approximately $736,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Basswood Capital Management L.L.C. acquired a new stake in shares of Customers Bancorp during the third quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp in the second quarter valued at approximately $48,000. GAMMA Investing LLC grew its position in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares during the last quarter. Innealta Capital LLC purchased a new stake in Customers Bancorp in the 2nd quarter valued at $74,000. Finally, Quest Partners LLC boosted its stake in Customers Bancorp by 143.4% during the 3rd 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 period. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Price Performance

CUBI stock opened at $53.51 on Friday. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 8.69 and a beta of 1.65. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $51.14 and a 200-day moving average of $50.31. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter in the previous year, the firm posted $2.59 earnings per share. The firm’s revenue for the quarter was down 23.2% compared to the same quarter last year. As a group, equities analysts expect that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CUBI shares. Keefe, Bruyette & Woods upped their target price on shares of Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Piper Sandler lowered their price objective 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. B. Riley upped their price objective 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, Raymond James dropped their price target 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. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.22.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 86,578 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the transaction, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at $61,662,410.92. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares in the company, valued at $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 96,440 shares of company stock worth $5,425,815. 6.92% of the stock is owned by corporate insiders.

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.