Jay S. Sidhu Sells 860 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 860 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total transaction of $47,067.80. Following the sale, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at approximately $65,114,360.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $56.50 on Wednesday. Customers Bancorp, Inc. has a twelve month low of $40.75 and a twelve month high of $68.49. 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 company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 9.17 and a beta of 1.61. The firm has a 50-day moving average of $47.44 and a two-hundred day moving average of $49.12.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 EPS 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 analysts’ expectations of $191.61 million. During the same period in the prior year, the company posted $2.59 earnings per share. Customers Bancorp’s quarterly revenue was down 23.2% compared to the same quarter last year. As a group, analysts expect that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Institutional Trading of Customers Bancorp

A number of hedge funds have recently bought and sold shares of CUBI. Texas Permanent School Fund Corp lifted its stake in Customers Bancorp by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after buying an additional 353 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Customers Bancorp by 7.5% in the first quarter. Quantbot Technologies LP now owns 17,401 shares of the bank’s stock worth $923,000 after purchasing an additional 1,217 shares in the last quarter. Empowered Funds LLC lifted its position in shares of Customers Bancorp by 7.9% in the first quarter. Empowered Funds LLC now owns 19,128 shares of the bank’s stock worth $1,015,000 after purchasing an additional 1,400 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Customers Bancorp by 208.5% in the first quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock worth $1,148,000 after purchasing an additional 14,621 shares in the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in shares of Customers Bancorp by 4.8% in the first quarter. Illinois Municipal Retirement Fund now owns 16,066 shares of the bank’s stock worth $852,000 after purchasing an additional 738 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CUBI has been the subject of several recent research reports. DA Davidson boosted their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. StockNews.com lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. Piper Sandler lowered their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Raymond James decreased their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Finally, Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Customers Bancorp has an average rating of “Hold” and an average target price of $61.11.

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.