Peregrine Capital Management LLC Trims Stake in Customers Bancorp, Inc (CUBI)
Peregrine Capital Management LLC trimmed its holdings in Customers Bancorp, Inc (NYSE:CUBI) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 273,224 shares of the bank’s stock after selling 21,190 shares during the quarter. Peregrine Capital Management LLC’s holdings in Customers Bancorp were worth $7,101,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of CUBI. Strs Ohio acquired a new position in shares of Customers Bancorp in the fourth quarter valued at $782,000. Schwab Charles Investment Management Inc. raised its stake in shares of Customers Bancorp by 16.9% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 302,763 shares of the bank’s stock valued at $7,869,000 after purchasing an additional 43,777 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Customers Bancorp by 26.7% in the third quarter. Public Employees Retirement System of Ohio now owns 76,509 shares of the bank’s stock valued at $2,496,000 after purchasing an additional 16,109 shares in the last quarter. Algert Global LLC acquired a new position in shares of Customers Bancorp in the third quarter valued at $1,416,000. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Customers Bancorp in the third quarter valued at $205,000. 86.50% of the stock is owned by institutional investors.
Customers Bancorp, Inc (CUBI) opened at $31.11 on Friday. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.91 and a current ratio of 1.23. Customers Bancorp, Inc has a 12 month low of $24.75 and a 12 month high of $35.62. The stock has a market capitalization of $952.87, a price-to-earnings ratio of 15.18 and a beta of 0.61.
In other Customers Bancorp news, COO Richard A. Ehst sold 9,000 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $26.70, for a total transaction of $240,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Rick Burkey sold 1,129 shares of the stock in a transaction on Friday, December 8th. The stock was sold at an average price of $26.74, for a total value of $30,189.46. Following the transaction, the director now owns 40,919 shares of the company’s stock, valued at $1,094,174.06. The disclosure for this sale can be found here. Insiders have sold 60,129 shares of company stock valued at $1,603,489 over the last quarter. Corporate insiders own 8.67% of the company’s stock.
A number of research analysts recently commented on the company. Sandler O’Neill restated a “hold” rating and issued a $33.00 target price on shares of Customers Bancorp in a research note on Friday. Maxim Group restated a “buy” rating and issued a $50.00 target price on shares of Customers Bancorp in a research note on Friday. B. Riley restated a “buy” rating and issued a $41.00 target price on shares of Customers Bancorp in a research note on Thursday. Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a research note on Friday. Finally, BidaskClub lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $39.20.
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Customers Bancorp Profile
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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