Virginia Retirement Systems ET AL sells 2,000 shares of Bancorp, Inc. clients (NYSE: CUBI)
Virginia Retirement Systems ET AL reduced its position in Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) by 8.2% in the 1st quarter, Holdings Channel.com reports. The fund held 22,300 shares of the bank after selling 2,000 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Customers Bancorp were worth $1,163,000 at the end of last quarter.
A number of other institutional investors have also been buying and selling stocks recently. Maryland State Retirement & Pension System increased its holdings in Customers Bancorp 1.4% in the fourth quarter. Maryland State Retirement & Pension System now owns 11,888 shares of the bank valued at $777,000 after acquiring 161 additional shares in the last quarter. Captrust Financial Advisors increased its holdings in Customers Bancorp by 9.0% in the third quarter. Captrust Financial Advisors now owns 2,801 shares of the bank valued at $120,000 after acquiring 231 additional shares in the last quarter. Lazard Asset Management LLC increased its holdings in Customers Bancorp by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank valued at $44,000 after acquiring 284 additional shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Customers Bancorp by 1.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 18,133 shares of the bank valued at $1,185,000 after acquiring 292 additional shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Customers Bancorp by 3.7% in the third quarter. Two Sigma Advisers LP now owns 8,400 shares of the bank valued at $361,000 after acquiring 300 additional shares in the last quarter. Institutional investors and hedge funds hold 83.48% of the company’s shares.
NYSE CUBI opened at $34.50 on Thursday. The company has a market capitalization of $1.14 billion, a P/E ratio of 3.44 and a beta of 1.61. The company has a debt ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81. The stock’s 50-day moving average is $38.30 and its 200-day moving average is $51.23. Bancorp, Inc. Customers has a one-year minimum of $32.19 and a one-year maximum of $76.13.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly results on Wednesday, April 27. The bank reported EPS of $2.19 for the quarter, beating analyst consensus estimates of $1.66 by $0.53. The company posted revenue of $185.90 million for the quarter, compared to analyst estimates of $170.48 million. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%. Stock analysts expect Customers Bancorp, Inc. to post EPS of 7.3 for the current year.
CUBI has been the subject of several analyst reports. B. Riley reduced his target price on Customers Bancorp from $100.00 to $90.00 in a Tuesday, April 12 research note. Maxim Group reissued a “buy” rating and published a price target of $85.00 on Customers Bancorp stock in a research note on Friday, April 29. Stephens launched coverage on Customers Bancorp in a research note on Monday, March 28. They issued an “equal weight” rating and a target price of $62.50 on the stock. StockNews.com launched coverage on Customers Bancorp in a research note on Thursday, March 31. They issued a “holding” rating on the stock. Finally, Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performance” rating to an “outperform” rating and increased its target price for the business from $72.00 to $80.00 in a research note from Monday, March 28. Four investment analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $72.36.
Separately, Chief Financial Officer Carla A. Leibold purchased 1,000 shares of the company in a transaction that took place on Friday, May 6. The shares were acquired at an average price of $42.10 per share, with a total value of $42,100.00. Following the transaction, the CFO now owns 68,348 shares of the company, valued at $2,877,450.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, CEO Samvir S. Sidhu purchased 2,965 shares of the company in a transaction that took place on Friday, May 6. The shares were purchased at an average cost of $42.10 per share, for a total transaction of $124,826.50. As a result of the transaction, the CEO now owns 80,637 shares of the company, valued at approximately $3,394,817.70. Disclosure of this purchase can be found here. In the past ninety days, insiders have purchased 4,465 shares of the company worth $186,912. 6.75% of the shares are currently held by insiders.
Bancorp Clients Profile (Get a rating)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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