Customers Bancorp (NYSE:CUBI) CEO Jay Sidhu Sells 2,522 Shares of Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 2,522 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $68.39, for a total value of $172,479.58. Following the completion of the transaction, the chief executive officer directly owned 925,695 shares of the company’s stock, valued at approximately $63,308,281.05. The trade was a 0.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Customers Bancorp Price Performance

NYSE:CUBI opened at $67.35 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.30 billion, a PE ratio of 13.66 and a beta of 1.64. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $72.51. The company’s 50-day moving average price is $66.46 and its two-hundred day moving average price is $61.59.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock worth $44,000 after purchasing an additional 260 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the first quarter valued at about $37,000. Aster Capital Management DIFC Ltd grew its stake in shares of Customers Bancorp by 451.2% in the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after acquiring an additional 767 shares in the last quarter. CX Institutional bought a new position in Customers Bancorp during the third quarter worth about $67,000. Finally, Smartleaf Asset Management LLC raised its stake in Customers Bancorp by 17.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,755 shares of the bank’s stock worth $115,000 after purchasing an additional 256 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

CUBI has been the topic of several research reports. Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “hold (c)” rating on shares of Customers Bancorp in a report on Wednesday, October 8th. Hovde Group upped their target price on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Wall Street Zen upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Finally, B. Riley reissued a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Customers Bancorp Company Profile

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.