Insider Selling: Customers Bancorp, Inc. (NYSE:CUBI) Insider Sells 15,815 Shares of Stock

Customers Bancorp, Inc. (NYSE:CUBI) insider Glenn Hedde sold 15,815 shares of the firm’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the transaction, the insider now owns 55,211 shares in the company, valued at $3,216,040.75. This represents a 22.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Glenn Hedde also recently made the following trade(s):

• On Wednesday, November 6th, Glenn Hedde sold 5,002 shares of Customers Bancorp stock. The shares were sold at an average price of $53.68, for a total value of $268,507.36.

Customers Bancorp Stock Performance

CUBI traded down $0.06 on Thursday, hitting $57.15. 209,353 shares of the company’s stock were exchanged, compared to its average volume of 370,966. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49. The firm has a market cap of $1.79 billion, a PE ratio of 9.28 and a beta of 1.68. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock has a fifty day moving average of $51.63 and a two-hundred day moving average of $51.08.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. On average, research analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CUBI shares. Maxim Group upped their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. B. Riley increased their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Raymond James lowered their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler dropped their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Finally, Keefe, Bruyette & Woods lifted their price objective on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Hedge Funds Weigh In On Customers Bancorp

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers raised its stake in shares of Customers Bancorp by 4.6% in the 4th quarter. Rhumbline Advisers now owns 91,448 shares of the bank’s stock worth $4,452,000 after buying an additional 4,029 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock worth $13,621,000 after acquiring an additional 90,451 shares during the period. Sippican Capital Advisors raised its position in Customers Bancorp by 34.6% in the fourth quarter. Sippican Capital Advisors now owns 35,769 shares of the bank’s stock worth $1,741,000 after acquiring an additional 9,190 shares in the last quarter. R Squared Ltd acquired a new stake in Customers Bancorp in the 4th quarter valued at about $42,000. Finally, KBC Group NV boosted its position in shares of Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.