Bernard Bennett Banks Sells 9,000 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) Director Bernard Bennett Banks sold 9,000 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the completion of the sale, the director directly owned 7,524 shares of the company’s stock, valued at approximately $503,581.32. This represents a 54.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Customers Bancorp Trading Down 1.4%

NYSE:CUBI opened at $67.51 on Wednesday. The stock has a market cap of $2.31 billion, a PE ratio of 13.69 and a beta of 1.64. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. The stock’s 50-day moving average is $66.56 and its two-hundred day moving average is $61.55.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on CUBI shares. Cowen reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. Hovde Group lifted their price objective on Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Keefe, Bruyette & Woods upped their target price on Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. Zacks Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Customers Bancorp in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and an average target price of $82.88.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Jones Financial Companies Lllp bought a new stake in Customers Bancorp during the first quarter worth approximately $37,000. Farther Finance Advisors LLC lifted its stake in shares of Customers Bancorp by 63.1% in the third quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock worth $44,000 after buying an additional 260 shares during the last quarter. CX Institutional bought a new stake in shares of Customers Bancorp during the 3rd quarter worth $67,000. Smartleaf Asset Management LLC grew its stake in Customers Bancorp by 17.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock valued at $115,000 after buying an additional 256 shares during the last quarter. Finally, Osaic Holdings Inc. grew its stake in Customers Bancorp by 24.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,121 shares of the bank’s stock valued at $124,000 after buying an additional 421 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

About Customers Bancorp

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.