Brandywine Global Investment Management LLC Cuts Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Brandywine Global Investment Management LLC lessened its holdings in Customers Bancorp, Inc. (NYSE:CUBI) by 4.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,894 shares of the bank’s stock after selling 3,502 shares during the quarter. Brandywine Global Investment Management LLC owned 0.24% of Customers Bancorp worth $3,695,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management boosted its stake in shares of Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after buying an additional 189 shares in the last quarter. R Squared Ltd acquired a new stake in Customers Bancorp in the fourth quarter valued at $42,000. KBC Group NV boosted its position in shares of Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after purchasing an additional 677 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Customers Bancorp by 323.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after purchasing an additional 1,255 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of Customers Bancorp in the 3rd quarter valued at about $84,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insiders Place Their Bets

In related news, insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the transaction, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jay S. Sidhu sold 67,000 shares of the firm’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 completion of the sale, the chief executive officer now directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. The trade was a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock valued at $6,627,318 in the last quarter. 6.92% of the stock is currently owned by company insiders.

Customers Bancorp Trading Up 1.0 %

Shares of CUBI stock opened at $50.72 on Wednesday. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 9.98 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. The firm has a 50-day moving average price of $53.60 and a 200 day moving average price of $51.00. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. Research analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current fiscal year.

Analyst Ratings Changes

CUBI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods upped their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. DA Davidson lifted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, Maxim Group upped their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Customers Bancorp has a consensus 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.