Insider Selling: Customers Bancorp, Inc (CUBI) CFO Sells $1,333,000.00 in Stock
Customers Bancorp, Inc (NYSE:CUBI) CFO Robert E. Wahlman sold 50,000 shares of Customers Bancorp stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total value of $1,333,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Customers Bancorp, Inc (CUBI) opened at $27.07 on Friday. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17. Customers Bancorp, Inc has a 12-month low of $24.75 and a 12-month high of $36.93. The firm has a market capitalization of $834.85, a PE ratio of 9.48 and a beta of 0.62.
Customers Bancorp (NYSE:CUBI) last issued its earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.09). Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. The business had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same period last year, the business posted $0.64 EPS. research analysts forecast that Customers Bancorp, Inc will post 2.47 earnings per share for the current fiscal year.
CUBI has been the subject of several recent research reports. TheStreet cut Customers Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 price objective for the company in a research note on Tuesday, October 24th. BidaskClub upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Boenning Scattergood reissued a “hold” rating on shares of Customers Bancorp in a research report on Friday, October 27th. Finally, Maxim Group reissued a “buy” rating and set a $50.00 target price on shares of Customers Bancorp in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Customers Bancorp has an average rating of “Hold” and a consensus price target of $40.50.
Hedge funds and other institutional investors have recently modified their holdings of the company. Flinton Capital Management LLC raised its position in shares of Customers Bancorp by 176.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock worth $114,000 after acquiring an additional 2,584 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter worth about $123,000. Nisa Investment Advisors LLC raised its position in shares of Customers Bancorp by 8.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock worth $158,000 after acquiring an additional 450 shares in the last quarter. State of Alaska Department of Revenue increased its position in Customers Bancorp by 80.2% during the second quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock worth $159,000 after buying an additional 2,517 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in Customers Bancorp during the second quarter worth approximately $205,000. 87.98% of the stock is currently owned by institutional investors and hedge funds.
About Customers Bancorp
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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