Customers Bancorp (NYSE:CUBI) CEO Samvir Sidhu Purchases 1,000 Shares of Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Samvir Sidhu bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were bought at an average price of $72.58 per share, with a total value of $72,580.00. Following the transaction, the chief executive officer directly owned 521,714 shares in the company, valued at $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $73.99 on Wednesday. The stock has a market capitalization of $2.50 billion, a price-to-earnings ratio of 9.39 and a beta of 1.52. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.81. Customers Bancorp, Inc has a 1-year low of $49.54 and a 1-year high of $82.56. The firm’s 50-day moving average price is $71.86 and its two-hundred day moving average price is $72.31.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The firm had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. During the same quarter in the previous year, the company posted $1.54 EPS. The business’s revenue for the quarter was up 57.9% compared to the same quarter last year. On average, equities analysts predict that Customers Bancorp, Inc will post 8.52 earnings per share for the current fiscal year.

Customers Bancorp announced that its Board of Directors has approved a share repurchase program on Wednesday, February 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to reacquire up to 4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds have recently made changes to their positions in CUBI. Arax Advisory Partners boosted its holdings in Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after purchasing an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in Customers Bancorp in the 3rd quarter valued at $29,000. Bessemer Group Inc. lifted its position in Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after buying an additional 232 shares in the last quarter. Transamerica Financial Advisors LLC grew its holdings in shares of Customers Bancorp by 216.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after acquiring an additional 404 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position 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 valued at $44,000 after acquiring an additional 260 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on CUBI. Hovde Group increased their price objective on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Morgan Stanley dropped their price target on shares of Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Wall Street Zen downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. DA Davidson increased their target price on Customers Bancorp from $91.00 to $93.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, TD Cowen restated a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $87.50.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.