Jay Sidhu Sells 835 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) Chairman Jay Sidhu sold 835 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $79.00, for a total value of $65,965.00. Following the completion of the transaction, the chairman owned 736,578 shares in the company, valued at approximately $58,189,662. This trade represents a 0.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Customers Bancorp Stock Up 0.5%

Shares of CUBI stock traded up $0.41 during trading hours on Friday, hitting $78.61. 209,750 shares of the company were exchanged, compared to its average volume of 364,299. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 9.59 and a beta of 1.48. Customers Bancorp, Inc has a one year low of $59.34 and a one year high of $82.56. The business’s 50-day simple moving average is $76.76 and its two-hundred day simple moving average is $74.52. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The firm had revenue of $227.28 million during the quarter, compared to analyst estimates of $229.24 million. During the same period in the previous year, the company earned $1.80 earnings per share. Customers Bancorp’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Customers Bancorp, Inc will post 8.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD boosted its position in shares of Customers Bancorp by 3,074.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after buying an additional 844,141 shares during the period. Assenagon Asset Management S.A. increased its position in Customers Bancorp by 213.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock valued at $54,056,000 after acquiring an additional 529,987 shares during the period. Anatole Investment Management Ltd bought a new stake in Customers Bancorp during the 2nd quarter valued at $17,593,000. Millennium Management LLC raised its stake in Customers Bancorp by 448.8% during the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock valued at $21,427,000 after acquiring an additional 268,056 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock worth $16,279,000 after acquiring an additional 222,546 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CUBI. DA Davidson increased their price objective on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler upped their target price on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Morgan Stanley increased their price target on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research report on Monday, June 29th. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. Finally, Fundamental Research set a $94.00 price objective on Customers Bancorp in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.15.

Customers Bancorp Company Profile

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.