Jay Sidhu Sells 2,522 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 2,522 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $68.39, for a total transaction of $172,479.58. Following the completion of the transaction, the chief executive officer directly owned 925,695 shares of the company’s stock, valued at approximately $63,308,281.05. This represents a 0.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Customers Bancorp Price Performance

CUBI opened at $66.89 on Friday. 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 has a market capitalization of $2.29 billion, a P/E ratio of 13.57 and a beta of 1.64. The company’s 50 day simple moving average is $66.40 and its 200-day simple moving average is $61.62. Customers Bancorp, Inc has a one year low of $40.75 and a one year high of $72.51.

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

Institutional Investors Weigh In On Customers Bancorp

Several large investors have recently bought and sold shares of CUBI. Entropy Technologies LP bought a new position in shares of Customers Bancorp during the third quarter worth $326,000. Sei Investments Co. increased its position in shares of Customers Bancorp by 7.0% in the 3rd quarter. Sei Investments Co. now owns 120,216 shares of the bank’s stock valued at $7,859,000 after buying an additional 7,908 shares in the last quarter. UBS Group AG raised its stake in Customers Bancorp by 5.6% during the 3rd quarter. UBS Group AG now owns 222,208 shares of the bank’s stock worth $14,526,000 after buying an additional 11,714 shares during the period. BNP Paribas Financial Markets raised its stake in Customers Bancorp by 199.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 39,835 shares of the bank’s stock worth $2,604,000 after buying an additional 26,534 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in Customers Bancorp by 3.3% during the third quarter. Franklin Resources Inc. now owns 64,820 shares of the bank’s stock worth $4,237,000 after acquiring an additional 2,058 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on CUBI. DA Davidson upped their price target on Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Zacks Research upgraded shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Customers Bancorp in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods boosted their price target on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Finally, Hovde Group raised their price objective on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.88.

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.