Point72 DIFC Ltd Makes New Investment in Customers Bancorp, Inc. (NYSE:CUBI)

Point72 DIFC Ltd acquired a new stake in shares of Customers Bancorp, Inc. (NYSE:CUBI) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 1,815 shares of the bank’s stock, valued at approximately $84,000.

Several other hedge funds have also recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its holdings in Customers Bancorp by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock valued at $107,575,000 after acquiring an additional 21,302 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Customers Bancorp by 14.6% in the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after purchasing an additional 87,557 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of Customers Bancorp by 94.3% in the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after buying an additional 266,462 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Customers Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after buying an additional 12,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after buying an additional 225,785 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In other Customers Bancorp news, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the transaction, the director now directly owns 4,567 shares in the company, valued at $245,613.26. This trade represents a 46.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $3,556,622.08. This represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock valued at $5,425,815 in the last 90 days. Company insiders own 6.92% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Raymond James decreased their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. B. Riley increased their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Stephens increased their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.22.

Customers Bancorp Trading Up 0.7 %

CUBI opened at $55.43 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The stock’s 50 day moving average price is $50.29 and its 200-day moving average price is $50.09. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The stock has a market cap of $1.74 billion, a price-to-earnings ratio of 9.00 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same period last year, the company earned $2.59 EPS. The business’s revenue was down 23.2% compared to the same quarter last year. On average, equities analysts forecast that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

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.