Customers Bancorp (NYSE:CUBI) CEO Jay Sidhu Sells 1,263 Shares

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 1,263 shares of Customers Bancorp stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $67.75, for a total value of $85,568.25. Following the transaction, the chief executive officer owned 966,596 shares in the company, valued at approximately $65,486,879. This represents a 0.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Customers Bancorp Trading Up 1.3%

Shares of Customers Bancorp stock traded up $0.89 during trading hours on Friday, hitting $67.56. The company’s stock had a trading volume of 200,382 shares, compared to its average volume of 313,619. The company has a market capitalization of $2.14 billion, a PE ratio of 13.70 and a beta of 1.64. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a 50 day moving average of $66.79 and a 200 day moving average of $60.93. Customers Bancorp, Inc has a 12 month low of $40.75 and a 12 month high of $72.51.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The business had revenue of $206.82 million during the quarter. Analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Customers Bancorp by 34.3% during the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after acquiring an additional 902,406 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Customers Bancorp by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank’s stock worth $140,892,000 after purchasing an additional 81,200 shares during the last quarter. Hood River Capital Management LLC boosted its position in shares of Customers Bancorp by 1.6% in the second quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank’s stock valued at $89,462,000 after acquiring an additional 23,416 shares during the period. American Century Companies Inc. raised its stake in Customers Bancorp by 5.6% in the 2nd quarter. American Century Companies Inc. now owns 876,625 shares of the bank’s stock worth $51,493,000 after purchasing an additional 46,602 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Customers Bancorp by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 695,204 shares of the bank’s stock valued at $40,841,000 after purchasing an additional 2,494 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. TD Cowen raised their price objective on shares of Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 27th. B. Riley restated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. National Bankshares set a $89.00 price objective on Customers Bancorp in a report on Wednesday, September 24th. Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, Keefe, Bruyette & Woods upped their price target on Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. One research 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’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.