Customers Bancorp (NYSE:CUBI) EVP Philip Watkins Sells 2,900 Shares of Stock

Customers Bancorp, Inc (NYSE:CUBI) EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the sale, the executive vice president directly owned 50,849 shares in the company, valued at approximately $3,307,218.96. The trade was a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Customers Bancorp Stock Performance

Shares of NYSE CUBI opened at $69.31 on Wednesday. The stock has a fifty day moving average price of $66.14 and a two-hundred day moving average price of $62.64. 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 firm has a market cap of $2.37 billion, a P/E ratio of 14.06 and a beta of 1.64. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $72.51.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Monday, September 8th. The bank reported $1.80 EPS for the quarter. The company 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 forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Analysts Set New Price Targets

CUBI has been the subject of a number of research analyst reports. Stephens upped their price target on shares of Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Monday, October 27th. Cowen reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. TD Cowen lifted their price target on shares of Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. 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.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Hedge Funds Weigh In On Customers Bancorp

Large investors have recently made changes to their positions in the business. Envestnet Asset Management Inc. grew its stake in Customers Bancorp by 7.3% in the first quarter. Envestnet Asset Management Inc. now owns 19,075 shares of the bank’s stock valued at $958,000 after purchasing an additional 1,298 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Customers Bancorp by 25.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,782 shares of the bank’s stock valued at $340,000 after buying an additional 1,396 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of Customers Bancorp by 34.9% in the 1st quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank’s stock valued at $427,000 after buying an additional 2,200 shares in the last quarter. Mackenzie Financial Corp acquired a new position in Customers Bancorp in the first quarter worth approximately $1,513,000. Finally, GSA Capital Partners LLP raised its position in Customers Bancorp by 105.8% during the first quarter. GSA Capital Partners LLP now owns 28,525 shares of the bank’s stock valued at $1,432,000 after acquiring an additional 14,666 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.