Customers Bancorp, Inc. (NYSE:CUBI) CEO Sells $4,895,120.12 in Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp stock in a transaction on Monday, November 11th. The shares were sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the completion of the sale, the chief executive officer now owns 1,090,598 shares of the company’s stock, valued at $61,662,410.92. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $56.50 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.79 billion, a PE ratio of 9.17 and a beta of 1.61. The stock’s fifty day simple moving average is $47.44 and its two-hundred day simple moving average is $49.12. Customers Bancorp, Inc. has a 1-year low of $40.75 and a 1-year high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same period in the previous year, the business earned $2.59 earnings per share. The firm’s revenue for the quarter was down 23.2% on a year-over-year basis. As a group, analysts forecast that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CUBI shares. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Stephens upped their price target on Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a report on Friday, August 9th. Raymond James decreased their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. Finally, DA Davidson increased their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.11.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds have recently modified their holdings of CUBI. Ridgewood Investments LLC purchased a new stake in shares of Customers Bancorp during the second quarter valued at approximately $48,000. GAMMA Investing LLC boosted its position in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares during the last quarter. Innealta Capital LLC bought a new position in Customers Bancorp in the 2nd quarter valued at $74,000. Quest Partners LLC increased its position in shares of Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares during the last quarter. Finally, CWM LLC raised its stake in shares of Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after purchasing an additional 274 shares during the period. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.