Tieton Capital Management LLC Has $10.97 Million Stock Holdings in Customers Bancorp, Inc. (NYSE:CUBI)

Tieton Capital Management LLC lessened its holdings in shares of Customers Bancorp, Inc. (NYSE:CUBI) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 236,203 shares of the bank’s stock after selling 750 shares during the quarter. Customers Bancorp makes up approximately 5.7% of Tieton Capital Management LLC’s portfolio, making the stock its 3rd largest position. Tieton Capital Management LLC’s holdings in Customers Bancorp were worth $10,972,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in Customers Bancorp in the 2nd quarter worth $48,000. GAMMA Investing LLC increased its stake in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the period. Innealta Capital LLC acquired a new position in Customers Bancorp in the second quarter worth about $74,000. Quest Partners LLC lifted its stake in Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the period. Finally, CWM LLC grew its stake in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the period. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on CUBI shares. DA Davidson boosted their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a research report on Friday, August 9th. Stephens boosted their target price on Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods cut Customers Bancorp from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $57.00 to $52.00 in a report on Monday, November 4th. Finally, StockNews.com lowered Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Customers Bancorp currently has an average rating of “Hold” and a consensus target price of $61.11.

Customers Bancorp Stock Up 1.5 %

Shares of CUBI stock opened at $56.09 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The firm’s fifty day moving average price is $48.31 and its two-hundred day moving average price is $49.47. The firm has a market capitalization of $1.76 billion, a P/E ratio of 9.11 and a beta of 1.61. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI) last released 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 company had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same period in the previous year, the company posted $2.59 EPS. The company’s quarterly revenue was down 23.2% compared to the same quarter last year. On average, equities analysts predict that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the transaction, the chief executive officer now owns 1,189,738 shares in the company, valued at approximately $65,114,360.74. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the sale, the insider now owns 66,256 shares of the company’s stock, valued at $3,556,622.08. This trade 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 worth $5,425,815 in the last ninety days. Insiders own 6.92% of the company’s stock.

About Customers Bancorp

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.