Customers Bancorp (NYSE:CUBI) CEO Acquires $72,580.00 in Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Samvir Sidhu acquired 1,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average cost of $72.58 per share, with a total value of $72,580.00. Following the purchase, the chief executive officer owned 521,714 shares of the company’s stock, valued at approximately $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.

Customers Bancorp Stock Performance

NYSE CUBI opened at $73.68 on Friday. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 9.35 and a beta of 1.52. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The business has a 50-day moving average price of $72.01 and a 200-day moving average price of $72.39. Customers Bancorp, Inc has a twelve month low of $49.54 and a twelve month high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.09. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The business’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.54 earnings per share. As a group, equities research analysts predict that Customers Bancorp, Inc will post 8.52 EPS for the current fiscal year.

Customers Bancorp announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 11th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the bank to purchase up to 4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CUBI. Zacks Research downgraded Customers Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. JPMorgan Chase & Co. reduced their price target on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Hovde Group increased their price target on Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Morgan Stanley reduced their price target on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $86.00 price target (up from $82.00) on shares of Customers Bancorp in a report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and an average target price of $87.50.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently bought and sold shares of CUBI. Arax Advisory Partners raised its position in Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after purchasing an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp during the 3rd quarter valued at $29,000. Bessemer Group Inc. raised its position in Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after purchasing an additional 232 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in Customers Bancorp during the 1st quarter valued at $37,000. Finally, Transamerica Financial Advisors LLC raised its position in Customers Bancorp by 216.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after purchasing an additional 404 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

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.