Jay Sidhu Sells 7,479 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 7,479 shares of Customers Bancorp stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $70.06, for a total value of $523,978.74. Following the completion of the transaction, the chief executive officer owned 918,216 shares in the company, valued at $64,330,212.96. The trade was a 0.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Customers Bancorp Trading Down 0.1%

Shares of NYSE CUBI traded down $0.05 during mid-day trading on Friday, hitting $68.90. 128,502 shares of the company traded hands, compared to its average volume of 309,445. The company has a quick ratio of 0.98, a current 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. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 13.98 and a beta of 1.64. The business has a 50 day moving average of $66.20 and a two-hundred day moving average of $62.73.

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

Analyst Ratings Changes

A number of brokerages recently commented on CUBI. Zacks Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Wall Street Zen upgraded Customers Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. DA Davidson boosted their target price on shares of Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Hovde Group raised their price target on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Finally, TD Cowen upped their price objective on shares of Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $82.88.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. lifted its position in shares of Customers Bancorp by 5.2% in the 1st quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank’s stock worth $4,049,000 after acquiring an additional 3,958 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Customers Bancorp in the second quarter valued at $418,000. Allianz Asset Management GmbH lifted its position in Customers Bancorp by 34.9% in the first quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank’s stock worth $427,000 after purchasing an additional 2,200 shares during the period. Intech Investment Management LLC lifted its position in Customers Bancorp by 20.3% in the first quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock worth $3,377,000 after purchasing an additional 11,346 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in Customers Bancorp by 15.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock valued at $5,857,000 after buying an additional 13,600 shares during the period. 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.