Customers Bancorp (NYSE:CUBI) CEO Jay Sidhu Sells 2,522 Shares

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 2,522 shares of the firm’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $68.39, for a total value of $172,479.58. Following the completion of the transaction, the chief executive officer owned 925,695 shares in the company, valued at approximately $63,308,281.05. This trade represents a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Customers Bancorp Trading Down 0.3%

NYSE CUBI traded down $0.18 during mid-day trading on Wednesday, hitting $67.35. The company’s stock had a trading volume of 243,803 shares, compared to its average volume of 312,609. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $72.51. The stock’s fifty day simple moving average is $66.56 and its two-hundred day simple moving average is $61.55. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $2.30 billion, a P/E ratio of 13.66 and a beta of 1.64.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. The company had revenue of $206.82 million during the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. Research analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Institutional Trading of Customers Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its holdings in shares of Customers Bancorp by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 8,879 shares of the bank’s stock valued at $580,000 after buying an additional 155 shares during the period. Teacher Retirement System of Texas boosted its stake in Customers Bancorp by 4.2% in the second quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank’s stock valued at $267,000 after acquiring an additional 185 shares during the period. EP Wealth Advisors LLC boosted its stake in Customers Bancorp by 5.3% in the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank’s stock valued at $222,000 after acquiring an additional 223 shares during the period. Concurrent Investment Advisors LLC raised its position in shares of Customers Bancorp by 4.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock worth $327,000 after purchasing an additional 243 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Customers Bancorp by 0.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 80,896 shares of the bank’s stock worth $4,752,000 after purchasing an additional 244 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CUBI. Stephens upped their target price on Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. B. Riley restated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Hovde Group increased their price objective on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, DA Davidson lifted their price target on shares of Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.