Texas Permanent School Fund Corp Sells 1,781 Shares of Customers Bancorp, Inc. (NYSE:CUBI)

The Texas Permanent School Fund Corporation (TPSFC) recently sold 1,781 shares of Customers Bancorp, Inc. (CUSB) for a total value of $20.5 million. CUSB is a financial services company based in Houston, Texas that provides banking and investment services to individuals and businesses.

The TPSFC is a state-owned investment fund that manages the assets of the Texas public schools. The fund was established in 1972 with the goal of providing long-term investment returns for the benefit of the state's public schools.

In recent years, the TPSFC has been actively selling off its holdings in various companies as part of a strategy to diversify its portfolio and reduce risk. The sale of CUSB shares is just one example of this effort.

It's worth noting that the sale of these shares does not necessarily mean that the TPSFC no longer holds any interest in CUSB. It could simply be a strategic decision to sell off a portion of its holdings in the company for various reasons, such as to raise cash or to rebalance its portfolio.

Overall, the sale of CUSB shares by the TPSFC is an important development that may have implications for both the financial services industry and the state's public schools. It will be interesting to see how this decision plays out in the future and what impact it may have on the companies involved.