Jay Sidhu Sells 24,784 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 24,784 shares of the firm’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $68.05, for a total transaction of $1,686,551.20. Following the completion of the sale, the chief executive officer owned 928,217 shares in the company, valued at $63,165,166.85. This represents a 2.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Customers Bancorp Price Performance

Shares of CUBI opened at $66.89 on Friday. The firm has a fifty day simple moving average of $66.40 and a two-hundred day simple moving average of $61.62. The firm has a market cap of $2.29 billion, a PE ratio of 13.57 and a beta of 1.64. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. Customers Bancorp, Inc has a 1-year low of $40.75 and a 1-year high of $72.51.

Customers Bancorp (NYSE:CUBI) last issued 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 during the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%. On average, equities analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Institutional Investors Weigh In On Customers Bancorp

A number of hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP increased its holdings in shares of Customers Bancorp by 34.3% in the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after buying an additional 902,406 shares during the last quarter. Nuveen LLC purchased a new position in Customers Bancorp in the first quarter worth about $26,652,000. Anatole Investment Management Ltd bought a new stake in Customers Bancorp during the second quarter worth approximately $17,593,000. Emerald Advisers LLC bought a new stake in Customers Bancorp during the third quarter worth approximately $15,150,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Customers Bancorp during the third quarter valued at approximately $9,481,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CUBI has been the subject of several research reports. Keefe, Bruyette & Woods upped their price target on shares of Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. Cowen reiterated a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. DA Davidson lifted their price objective on Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, October 27th. National Bankshares set a $89.00 price objective on shares of Customers Bancorp in a research note on Wednesday, September 24th. Finally, Stephens lifted their target price on shares of Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. 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.com, the stock presently has a consensus 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.