Customers Bancorp (NYSE:CUBI) Stock: Insider T Lawrence Way Sells 723 Shares

Customers Bancorp, Inc (NYSE:CUBI) Director T. Way sold 723 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $85.16, for a total value of $61,570.68. Following the completion of the sale, the director owned 77,890 shares of the company’s stock, valued at $6,633,112.40. The trade was a 0.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

T Lawrence Way also recently made the following trade(s):

• On Friday, October 30th, T. Way sold 48,796 shares of Customers Bancorp stock. The stock was sold at an average price of $83.88, for a total transaction of $4,093,008.48.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock traded up $1.75 during trading on Wednesday, reaching $87.22. 270,499 shares of the stock traded hands, compared to its average volume of 340,527. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 10.57 and a beta of 1.43. The business has a fifty day simple moving average of $78.25 and a two-hundred day simple moving average of $75.98. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.96. Customers Bancorp, Inc has a 52-week low of $63.44 and a 52-week high of $89.60.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $2.27 EPS for the quarter, beating the consensus estimate of $2.14 by $0.13. Customers Bancorp had a net margin of 19.11% and a return on equity of 13.73%. The business had revenue of $240.24 million during the quarter, compared to analyst estimates of $237.18 million. During the same quarter last year, the business earned $2.20 earnings per share. Sell-side analysts expect that Customers Bancorp, Inc will post 8.55 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on CUBI. Keefe, Bruyette & Woods lifted their price target on Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $97.00 price objective on shares of Customers Bancorp in a research note on Monday, October 26th. JPMorgan Chase & Co. raised their price objective on Customers Bancorp from $92.00 to $100.00 and gave the company an “overweight” rating in a research note on Monday, October 26th. TD Cowen lifted their target price on Customers Bancorp from $91.00 to $97.00 and gave the stock a “buy” rating in a report on Monday, October 26th. Finally, Piper Sandler reissued an “overweight” rating and set a $102.00 target price (up from $92.00) on shares of Customers Bancorp in a research report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.36.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new position in Customers Bancorp during the 2nd quarter valued at about $385,165,000. Tieton Capital Management LLC purchased a new stake in Customers Bancorp in the 2nd quarter worth about $20,264,000. Bank of New York Mellon Corp purchased a new stake in Customers Bancorp in the 2nd quarter worth about $16,369,000. Empowered Funds LLC bought a new stake in Customers Bancorp in the second quarter worth about $12,505,000. Finally, Heartland Advisors Inc. bought a new stake in Customers Bancorp in the second quarter worth about $11,865,000. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking and financial services to businesses, entrepreneurs, professionals and consumers in the United States.

Customers Bank offers commercial and industrial lending, commercial real estate financing, small business lending, mortgage warehouse financing, venture banking and other specialized credit products. Its services also include business and consumer deposit accounts, cash management, treasury services, online banking and payment solutions.