Healthcare of Ontario Pension Plan Trust Fund Sells 46,611 Shares of Customers Bancorp, Inc $CUBI

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in shares of Customers Bancorp, Inc (NYSE:CUBI) by 91.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,607 shares of the bank’s stock after selling 46,611 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Customers Bancorp were worth $320,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Customers Bancorp by 3,074.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after purchasing an additional 844,141 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Customers Bancorp by 213.0% during the first quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock valued at $54,056,000 after purchasing an additional 529,987 shares during the period. Anatole Investment Management Ltd bought a new stake in Customers Bancorp during the second quarter valued at about $17,593,000. Millennium Management LLC increased its position in Customers Bancorp by 448.8% in the third quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after buying an additional 268,056 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Customers Bancorp by 247,273.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock worth $16,279,000 after buying an additional 222,546 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In related news, EVP Philip Watkins sold 3,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the sale, the executive vice president owned 43,993 shares of the company’s stock, valued at $3,328,950.31. This represents a 6.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Jay S. Sidhu sold 835 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $79.00, for a total transaction of $65,965.00. Following the transaction, the chairman owned 736,578 shares of the company’s stock, valued at $58,189,662. This trade represents a 0.11% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 94,494 shares of company stock worth $7,294,032. Insiders own 10.45% of the company’s stock.

Customers Bancorp Trading Down 0.1%

Shares of Customers Bancorp stock opened at $78.61 on Monday. The firm has a market cap of $2.66 billion, a price-to-earnings ratio of 9.59 and a beta of 1.48. The business has a 50-day moving average price of $76.83 and a 200-day moving average price of $74.53. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01. Customers Bancorp, Inc has a twelve month low of $59.34 and a twelve month high of $82.56.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The company had revenue of $227.28 million during the quarter, compared to analyst estimates of $229.24 million. During the same period in the prior year, the company earned $1.80 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. Equities research analysts anticipate that Customers Bancorp, Inc will post 8.43 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on CUBI. Hovde Group boosted their price objective on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. increased their price objective on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Piper Sandler upped their target price on shares of Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Finally, Fundamental Research set a $94.00 price target on Customers Bancorp in a report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $90.15.

Customers Bancorp Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.