Customers Bancorp (NYSE:CUBI) Chairman Sells $2,403,244.80 in Stock

Customers Bancorp, Inc (NYSE:CUBI) Chairman Jay Sidhu sold 30,344 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $79.20, for a total transaction of $2,403,244.80. Following the completion of the sale, the chairman owned 737,413 shares in the company, valued at $58,403,109.60. This trade represents a 3.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Customers Bancorp Stock Up 0.5%

CUBI traded up $0.41 during trading hours on Friday, hitting $78.61. 209,750 shares of the company’s stock were exchanged, compared to its average volume of 364,299. Customers Bancorp, Inc has a 1-year low of $59.34 and a 1-year high of $82.56. The stock’s 50-day moving average is $76.76 and its two-hundred day moving average is $74.52. The stock has a market cap of $2.66 billion, a price-to-earnings ratio of 9.59 and a beta of 1.48. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.05. The firm had revenue of $227.28 million for the quarter, compared to analyst estimates of $229.24 million. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The company’s revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.80 EPS. Sell-side analysts predict that Customers Bancorp, Inc will post 8.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CUBI has been the subject of several research reports. Fundamental Research set a $94.00 price target on Customers Bancorp in a report on Wednesday, July 1st. Hovde Group lifted their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Piper Sandler boosted their price objective on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. DA Davidson increased their target price on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley lifted their price target on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $90.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arax Advisory Partners increased its holdings in shares of Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after purchasing an additional 243 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of Customers Bancorp in the third quarter valued at approximately $29,000. Bessemer Group Inc. grew its position in Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after buying an additional 232 shares in the last quarter. Versant Capital Management Inc increased its stake in Customers Bancorp by 41.0% during the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock worth $44,000 after acquiring an additional 163 shares during the period. Finally, Transamerica Financial Advisors LLC increased its stake in Customers Bancorp by 216.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after acquiring an additional 404 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.