Customers Bancorp (NYSE:CUBI) Director T Lawrence Way Sells 723 Shares of Stock

Customers Bancorp, Inc (NYSE:CUBI) Director T. Way sold 723 shares of Customers Bancorp stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $85.16, for a total transaction of $61,570.68. Following the completion of the transaction, the director directly owned 77,890 shares of the company’s stock, valued at $6,633,112.40. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

T Lawrence Way also recently made the following trade(s):

• On Friday, October 30th, T. Way sold 48,796 shares of Customers Bancorp stock. The shares were sold at an average price of $83.88, for a total transaction of $4,093,008.48.

Customers Bancorp Stock Up 2.1%

NYSE CUBI traded up $1.75 during mid-day trading on Wednesday, reaching $87.22. The stock had a trading volume of 270,499 shares, compared to its average volume of 340,527. The stock has a market cap of $2.95 billion, a PE ratio of 10.57 and a beta of 1.43. Customers Bancorp, Inc has a 1 year low of $63.44 and a 1 year high of $89.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.96. The company has a fifty day moving average price of $78.25 and a 200 day moving average price of $75.98.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, October 22nd. The bank reported $2.27 EPS for the quarter, beating the consensus estimate of $2.14 by $0.13. The business had revenue of $240.24 million for the quarter, compared to the consensus estimate of $237.18 million. Customers Bancorp had a return on equity of 13.73% and a net margin of 19.11%. During the same period last year, the business posted $2.20 EPS. On average, research analysts expect that Customers Bancorp, Inc will post 8.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CUBI. DA Davidson set a $107.00 price target on Customers Bancorp in a report on Monday, October 26th. Keefe, Bruyette & Woods lifted their price objective on Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a research report on Friday, September 25th. JPMorgan Chase & Co. upped their price objective on Customers Bancorp from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $97.00 target price on shares of Customers Bancorp in a report on Monday, October 26th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.36.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of CUBI. BlackRock Inc. purchased a new position in Customers Bancorp during the second quarter valued at $385,165,000. Wellington Management Group LLP grew its holdings in Customers Bancorp by 3.8% during the second quarter. Wellington Management Group LLP now owns 4,035,500 shares of the bank’s stock valued at $319,208,000 after purchasing an additional 145,956 shares during the period. Dimensional Fund Advisors LP grew its holdings in Customers Bancorp by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock valued at $134,859,000 after purchasing an additional 65,954 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Customers Bancorp by 22.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 688,772 shares of the bank’s stock valued at $50,990,000 after purchasing an additional 125,855 shares during the period. Finally, Emerald Advisers LLC increased its position in Customers Bancorp by 3.9% in the first quarter. Emerald Advisers LLC now owns 343,209 shares of the bank’s stock worth $23,822,000 after buying an additional 12,899 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

About Customers Bancorp

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking and financial services to businesses, entrepreneurs, professionals and consumers in the United States.

Customers Bank offers commercial and industrial lending, commercial real estate financing, small business lending, mortgage warehouse financing, venture banking and other specialized credit products. Its services also include business and consumer deposit accounts, cash management, treasury services, online banking and payment solutions.