Customers Bancorp (NYSE:CUBI) Director T Lawrence Way Sells 48,796 Shares of Stock

Customers Bancorp, Inc (NYSE:CUBI) Director T. Way sold 48,796 shares of the stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $83.88, for a total transaction of $4,093,008.48. Following the completion of the sale, the director owned 78,613 shares of the company’s stock, valued at $6,594,058.44. This trade represents a 38.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

T Lawrence Way also recently made the following trade(s):

• On Monday, November 2nd, T. Way sold 723 shares of Customers Bancorp stock. The stock was sold at an average price of $85.16, for a total value of $61,570.68.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $87.22 on Thursday. Customers Bancorp, Inc has a one year low of $63.44 and a one year high of $89.60. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 10.57 and a beta of 1.43. The business’s 50 day moving average price is $78.42 and its 200 day moving average price is $76.03. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 0.96.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 22nd. The bank reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.13. The firm had revenue of $240.24 million during the quarter, compared to analyst estimates of $237.18 million. Customers Bancorp had a net margin of 19.11% and a return on equity of 13.73%. During the same quarter in the prior year, the firm posted $2.20 earnings per share. On average, research analysts predict that Customers Bancorp, Inc will post 8.55 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. DA Davidson set a $107.00 price target on Customers Bancorp in a research note on Monday, October 26th. Piper Sandler reaffirmed an “overweight” rating and issued a $102.00 price target (up from $92.00) on shares of Customers Bancorp in a report on Monday, October 26th. JPMorgan Chase & Co. raised their price objective on Customers Bancorp from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $97.00 price target on shares of Customers Bancorp in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.36.

Institutional Investors Weigh In On Customers Bancorp

A number of large investors have recently modified their holdings of the stock. Bessemer Group Inc. boosted its holdings in shares of Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after acquiring an additional 232 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Customers Bancorp during the 2nd quarter valued at $40,000. Versant Capital Management Inc increased its holdings in Customers Bancorp by 41.0% during the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after purchasing an additional 163 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Customers Bancorp in the 2nd quarter valued at $71,000. Finally, Rockefeller Capital Management L.P. raised its position in Customers Bancorp by 528.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,445 shares of the bank’s stock valued at $106,000 after purchasing an additional 1,215 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking and financial services to businesses, entrepreneurs, professionals and consumers in the United States.

Customers Bank offers commercial and industrial lending, commercial real estate financing, small business lending, mortgage warehouse financing, venture banking and other specialized credit products. Its services also include business and consumer deposit accounts, cash management, treasury services, online banking and payment solutions.