Samvir Sidhu Acquires 1,000 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Samvir Sidhu bought 1,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $72.58 per share, with a total value of $72,580.00. Following the completion of the acquisition, the chief executive officer directly owned 521,714 shares of the company’s stock, valued at approximately $37,866,002.12. The trade was a 0.19% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $72.69 on Thursday. Customers Bancorp, Inc has a twelve month low of $49.54 and a twelve month high of $82.56. The firm has a market cap of $2.46 billion, a P/E ratio of 9.22 and a beta of 1.52. The company has a 50 day moving average of $71.93 and a 200 day moving average of $72.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The business had revenue of $225.40 million for the quarter, compared to the consensus estimate of $223.51 million. During the same period last year, the business posted $1.54 EPS. The company’s revenue was up 57.9% compared to the same quarter last year. As a group, research analysts expect that Customers Bancorp, Inc will post 8.52 EPS for the current fiscal year.

Customers Bancorp declared that its Board of Directors has authorized a share buyback program on Wednesday, February 11th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the bank to reacquire up to 4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Arizona State Retirement System lifted its position in Customers Bancorp by 1.8% during the third quarter. Arizona State Retirement System now owns 8,879 shares of the bank’s stock valued at $580,000 after purchasing an additional 155 shares in the last quarter. Lido Advisors LLC increased its position in Customers Bancorp by 3.0% in the fourth quarter. Lido Advisors LLC now owns 6,135 shares of the bank’s stock worth $412,000 after buying an additional 178 shares in the last quarter. Alliancebernstein L.P. increased its position in Customers Bancorp by 0.5% in the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock worth $2,226,000 after buying an additional 182 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Customers Bancorp by 1.3% in the fourth quarter. MetLife Investment Management LLC now owns 17,625 shares of the bank’s stock worth $1,289,000 after buying an additional 230 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after buying an additional 232 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CUBI has been the subject of a number of research analyst reports. B. Riley Financial reiterated a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Morgan Stanley dropped their target price on shares of Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Weiss Ratings raised shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Maxim Group set a $100.00 target price on shares of Customers Bancorp in a research note on Monday, January 26th. Finally, DA Davidson increased their price target on Customers Bancorp from $91.00 to $93.00 and gave the company a “buy” rating in a report on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $87.50.

Customers Bancorp Company Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.