Customers Bancorp (NYSE:CUBI) Stock: Insider Philip Watkins Sells 5,500 Shares

Customers Bancorp, Inc (NYSE:CUBI) EVP Philip Watkins sold 5,500 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $86.17, for a total transaction of $473,935.00. Following the completion of the transaction, the executive vice president directly owned 41,102 shares of the company’s stock, valued at approximately $3,541,759.34. This represents a 11.80% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $84.51 on Friday. The company’s fifty day moving average price is $78.54 and its 200-day moving average price is $76.06. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 10.24 and a beta of 1.43. Customers Bancorp, Inc has a one year low of $63.44 and a one year high of $89.60. 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 (NYSE:CUBI) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $2.27 earnings per share 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 firm had revenue of $240.24 million for the quarter, compared to analysts’ expectations of $237.18 million. During the same quarter last year, the company posted $2.20 EPS. On average, equities research analysts anticipate that Customers Bancorp, Inc will post 8.55 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on CUBI shares. 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 note on Monday, August 3rd. DA Davidson set a $107.00 price objective on Customers Bancorp in a report on Monday, October 26th. Morgan Stanley reiterated an “underweight” rating and set a $97.00 price objective on shares of Customers Bancorp in a research report on Monday, October 26th. Piper Sandler reissued an “overweight” rating and set a $102.00 price objective (up from $92.00) on shares of Customers Bancorp in a report on Monday, October 26th. Finally, JPMorgan Chase & Co. boosted their target price on Customers Bancorp from $92.00 to $100.00 and gave the stock an “overweight” rating in a research report on Monday, October 26th. One 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 issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $94.36.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new position in Customers Bancorp during the 2nd quarter worth approximately $40,000. Bessemer Group Inc. increased its stake in Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after purchasing an additional 232 shares during the period. Versant Capital Management Inc lifted its position in Customers Bancorp by 41.0% in the second quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after purchasing an additional 163 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in Customers Bancorp in the second quarter valued at approximately $71,000. Finally, Rockefeller Capital Management L.P. lifted its position in Customers Bancorp by 528.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,445 shares of the bank’s stock valued at $106,000 after purchasing an additional 1,215 shares during the last quarter. 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.