Bernard Bennett Banks Sells 9,000 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) Director Bernard Bennett Banks sold 9,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $66.93, for a total transaction of $602,370.00. Following the transaction, the director directly owned 7,524 shares in the company, valued at $503,581.32. This trade represents a 54.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $68.15 on Monday. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $66.71 and a two-hundred day simple moving average of $61.29. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $72.51. The firm has a market capitalization of $2.16 billion, a PE ratio of 13.83 and a beta of 1.64.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. TD Cowen boosted their price target on shares of Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Cowen reiterated a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. Wall Street Zen upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Stephens raised their price objective on shares of Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Monday, October 27th. One investment 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 stock. According to MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.88.

Institutional Investors Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Customers Bancorp by 34.3% during the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock valued at $177,349,000 after buying an additional 902,406 shares in the last quarter. Nuveen LLC purchased a new position in shares of Customers Bancorp during the first quarter valued at about $26,652,000. Anatole Investment Management Ltd bought a new stake in shares of Customers Bancorp in the second quarter worth about $17,593,000. Emerald Advisers LLC bought a new position in Customers Bancorp during the third quarter valued at approximately $15,150,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Customers Bancorp in the 3rd quarter worth approximately $9,481,000. 89.29% of the stock is currently owned by institutional investors.

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.