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

Pacific Ridge Capital Partners LLC grew its stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 12.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,880 shares of the bank’s stock after purchasing an additional 2,797 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in Customers Bancorp were worth $1,260,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of CUBI. Picton Mahoney Asset Management boosted its holdings in Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after acquiring an additional 189 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Customers Bancorp by 3.2% during the fourth quarter. Sanctuary Advisors LLC now owns 9,714 shares of the bank’s stock valued at $473,000 after purchasing an additional 302 shares during the period. SG Americas Securities LLC grew its holdings in shares of Customers Bancorp by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock worth $272,000 after purchasing an additional 333 shares during the last quarter. Basswood Capital Management L.L.C. purchased a new position in shares of Customers Bancorp in the third quarter worth $26,000. Finally, Swiss National Bank raised its holdings in Customers Bancorp by 1.0% during the 4th quarter. Swiss National Bank now owns 59,200 shares of the bank’s stock valued at $2,882,000 after buying an additional 600 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $52.14 on Thursday. The company’s fifty day moving average price is $53.53 and its 200-day moving average price is $50.92. The stock has a market cap of $1.64 billion, a PE ratio of 10.26 and a beta of 1.74. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. 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 quarterly earnings data 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 net margin of 13.07% and a return on equity of 12.29%. On average, equities analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 33,173 shares of the stock in a transaction dated 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 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 represents a 3.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of the transaction, the insider now directly owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 115,988 shares of company stock worth $6,627,318 in the last 90 days. Insiders own 6.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CUBI shares. Keefe, Bruyette & Woods raised their price target on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a 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. 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 report on Monday, January 27th. Finally, Stephens restated an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $64.00.

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.