Customers Bancorp (NYSE:CUBI) EVP Philip Watkins Sells 5,500 Shares of Stock

Customers Bancorp, Inc (NYSE:CUBI) EVP Philip Watkins sold 5,500 shares of Customers Bancorp stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $86.17, for a total value of $473,935.00. Following the completion of the sale, the executive vice president directly owned 41,102 shares in the company, valued at $3,541,759.34. This represents a 11.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Customers Bancorp Stock Performance

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

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

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley reaffirmed an “underweight” rating and set a $97.00 price target on shares of Customers Bancorp in a research report on Monday, October 26th. TD Cowen lifted their price objective on shares of Customers Bancorp from $91.00 to $97.00 and gave the company a “buy” rating in a report on Monday, October 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research report on Friday, September 25th. DA Davidson set a $107.00 price objective on shares of Customers Bancorp in a research report on Monday, October 26th. Finally, JPMorgan Chase & Co. increased their target price on shares of Customers Bancorp from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $94.36.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CUBI. Ashton Thomas Private Wealth LLC lifted its stake in Customers Bancorp by 2.0% in the third quarter. Ashton Thomas Private Wealth LLC now owns 6,590 shares of the bank’s stock valued at $488,000 after acquiring an additional 127 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Customers Bancorp by 41.0% in the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after acquiring an additional 163 shares during the period. GAMMA Investing LLC grew its position in shares of Customers Bancorp by 8.4% in the 3rd quarter. GAMMA Investing LLC now owns 2,132 shares of the bank’s stock valued at $158,000 after acquiring an additional 165 shares during the period. Bessemer Group Inc. increased its stake in shares of Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after purchasing an additional 232 shares during the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Customers Bancorp by 6.2% during the 1st quarter. Lazard Asset Management LLC now owns 6,024 shares of the bank’s stock worth $418,000 after purchasing an additional 354 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

About Customers Bancorp

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.