Customers Bancorp (NYSE:CUBI) CEO Jay Sidhu Sells 24,784 Shares

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 24,784 shares of Customers Bancorp stock in a transaction dated Tuesday, November 11th. The shares were sold at an average price of $68.05, for a total value of $1,686,551.20. Following the completion of the transaction, the chief executive officer owned 928,217 shares of the company’s stock, valued at $63,165,166.85. The trade was a 2.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Customers Bancorp Stock Down 0.3%

CUBI stock opened at $67.35 on Thursday. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.51. The company’s 50 day moving average price is $66.46 and its 200 day moving average price is $61.59. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $2.30 billion, a price-to-earnings ratio of 13.66 and a beta of 1.64.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Monday, September 8th. The bank reported $1.80 EPS for the quarter. The company had revenue of $206.82 million for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. On average, equities research analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on CUBI. Wall Street Zen raised Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Hovde Group boosted their target price on Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. TD Cowen increased their price target on shares of Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Keefe, Bruyette & Woods raised their price objective on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Monday, October 27th. Finally, DA Davidson upped their target price on shares of Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $82.88.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas purchased a new stake in Customers Bancorp in the first quarter valued at approximately $219,000. Principal Financial Group Inc. increased its holdings in shares of Customers Bancorp by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 145,201 shares of the bank’s stock valued at $7,289,000 after acquiring an additional 3,802 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Customers Bancorp by 7.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 19,075 shares of the bank’s stock valued at $958,000 after acquiring an additional 1,298 shares during the period. Nisa Investment Advisors LLC raised its position in Customers Bancorp by 3.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank’s stock valued at $373,000 after purchasing an additional 270 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in Customers Bancorp by 25.9% during the 1st quarter. Victory Capital Management Inc. now owns 6,782 shares of the bank’s stock worth $340,000 after purchasing an additional 1,396 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

About Customers Bancorp

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.