Insider Selling: Customers Bancorp (NYSE:CUBI) Chairman Sells $65,965.00 in Stock

Customers Bancorp, Inc (NYSE:CUBI) Chairman Jay Sidhu sold 835 shares of the stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $79.00, for a total value of $65,965.00. Following the transaction, the chairman directly owned 736,578 shares of the company’s stock, valued at approximately $58,189,662. The trade was a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $78.61 on Monday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. Customers Bancorp, Inc has a 1 year low of $59.34 and a 1 year high of $82.56. The stock’s 50 day simple moving average is $76.83 and its two-hundred day simple moving average is $74.53. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 9.59 and a beta of 1.48.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The firm had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same period in the prior year, the company earned $1.80 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts anticipate that Customers Bancorp, Inc will post 8.43 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on CUBI. Morgan Stanley increased their price objective on shares of Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a research report on Monday, June 29th. DA Davidson boosted their target price on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Fundamental Research set a $94.00 target price on shares of Customers Bancorp in a research report on Wednesday, July 1st. Hovde Group increased their price target on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Finally, JPMorgan Chase & Co. lifted their price target on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $90.15.

Institutional Trading of Customers Bancorp

Several institutional investors have recently added to or reduced their stakes in CUBI. Handelsbanken Fonder AB bought a new position in shares of Customers Bancorp during the second quarter valued at approximately $459,000. Versant Capital Management Inc raised its holdings in shares of Customers Bancorp by 41.0% in the second quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock worth $44,000 after buying an additional 163 shares during the period. Militia Capital Management LLC bought a new stake in shares of Customers Bancorp during the 1st quarter worth approximately $865,000. Access Investment Management LLC boosted its holdings in Customers Bancorp by 5.7% during the 1st quarter. Access Investment Management LLC now owns 139,940 shares of the bank’s stock valued at $9,713,000 after acquiring an additional 7,525 shares during the period. Finally, Bank of America Corp DE boosted its holdings in Customers Bancorp by 62.0% during the 1st quarter. Bank of America Corp DE now owns 164,595 shares of the bank’s stock valued at $11,425,000 after acquiring an additional 63,021 shares during the period. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

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.