Customers Bancorp (NYSE:CUBI) CEO Sells $1,502,374.72 in Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 22,172 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $67.76, for a total value of $1,502,374.72. Following the sale, the chief executive officer directly owned 967,859 shares of the company’s stock, valued at $65,582,125.84. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Customers Bancorp Stock Up 1.3%

Shares of NYSE CUBI traded up $0.89 during trading hours on Friday, hitting $67.56. The stock had a trading volume of 200,382 shares, compared to its average volume of 313,619. The firm’s 50-day moving average price is $66.79 and its two-hundred day moving average price is $60.93. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $72.51. The company has a market capitalization of $2.14 billion, a P/E ratio of 13.70 and a beta of 1.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. The firm had revenue of $206.82 million during the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. Analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Customers Bancorp

Large investors have recently made changes to their positions in the business. Farther Finance Advisors LLC grew its holdings in Customers Bancorp by 63.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after buying an additional 260 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Customers Bancorp during the first quarter worth approximately $37,000. CX Institutional bought a new stake in shares of Customers Bancorp in the third quarter valued at approximately $67,000. Smartleaf Asset Management LLC grew its stake in shares of Customers Bancorp by 17.1% in the third quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after acquiring an additional 256 shares during the last quarter. Finally, CENTRAL TRUST Co bought a new position in Customers Bancorp during the third quarter worth $131,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on CUBI. Wall Street Zen raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods upped their price target on Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Hovde Group increased their price objective on Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. National Bankshares set a $89.00 price objective on Customers Bancorp in a research note on Wednesday, September 24th. Finally, Stephens upped their target price on Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

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.