Customers Bancorp, Inc. (NYSE:CUBI) Shares Bought by Sippican Capital Advisors

Sippican Capital Advisors raised its stake in Customers Bancorp, Inc. (NYSE:CUBI) by 140.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,579 shares of the bank’s stock after acquiring an additional 15,510 shares during the quarter. Sippican Capital Advisors owned approximately 0.08% of Customers Bancorp worth $1,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wedge Capital Management L L P NC purchased a new stake in shares of Customers Bancorp in the second quarter valued at $2,508,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Customers Bancorp in the first quarter valued at $4,266,000. Intech Investment Management LLC purchased a new stake in shares of Customers Bancorp in the second quarter valued at $698,000. SG Americas Securities LLC grew its position in shares of Customers Bancorp by 208.5% in the first quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock valued at $1,148,000 after purchasing an additional 14,621 shares during the period. Finally, Thrivent Financial for Lutherans grew its position in shares of Customers Bancorp by 26.6% in the second quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank’s stock valued at $3,429,000 after purchasing an additional 15,011 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Up 0.0 %

Shares of NYSE:CUBI traded up $0.01 during trading on Thursday, hitting $45.67. The company’s stock had a trading volume of 9,240 shares, compared to its average volume of 358,222. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp, Inc. has a fifty-two week low of $38.69 and a fifty-two week high of $68.49. The stock’s 50-day moving average price is $47.47 and its two-hundred day moving average price is $48.96. The company has a market capitalization of $1.45 billion, a PE ratio of 6.37 and a beta of 1.61.

Insider Buying and Selling

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the purchase, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research report on Friday, August 9th. Raymond James lowered their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods lowered their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, DA Davidson upped their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three investment 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 stock. According to MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Customers Bancorp Company 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.