Customers Bancorp (NYSE:CUBI) CEO Sells $1,502,374.72 in Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 22,172 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $67.76, for a total transaction of $1,502,374.72. Following the transaction, the chief executive officer directly owned 967,859 shares in the company, valued at $65,582,125.84. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Customers Bancorp Trading Up 1.3%

Shares of CUBI stock opened at $67.56 on Monday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 13.70 and a beta of 1.64. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $72.51. The company has a 50-day simple moving average of $66.71 and a two-hundred day simple moving average of $61.29.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. The firm had revenue of $206.82 million for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%. Research analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wellington Management Group LLP raised its holdings in Customers Bancorp by 34.3% during the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock valued at $177,349,000 after acquiring an additional 902,406 shares during the period. Vanguard Group Inc. grew its position in shares of Customers Bancorp by 3.9% in the third quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank’s stock valued at $140,892,000 after purchasing an additional 81,200 shares in the last quarter. Hood River Capital Management LLC raised its stake in shares of Customers Bancorp by 1.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank’s stock valued at $89,462,000 after purchasing an additional 23,416 shares during the period. American Century Companies Inc. raised its stake in shares of Customers Bancorp by 5.6% during the 2nd quarter. American Century Companies Inc. now owns 876,625 shares of the bank’s stock valued at $51,493,000 after purchasing an additional 46,602 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Customers Bancorp by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 695,204 shares of the bank’s stock worth $40,841,000 after purchasing an additional 2,494 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Cowen reiterated a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. Wall Street Zen upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. DA Davidson increased their target price on shares of Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, October 27th. National Bankshares set a $89.00 price target on shares of Customers Bancorp in a report on Wednesday, September 24th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Customers Bancorp in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $82.88.

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.