Customers Bancorp (NYSE:CUBI) Chairman Jay Sidhu Sells 30,344 Shares

Customers Bancorp, Inc (NYSE:CUBI – Get Free Report) Chairman Jay Sidhu sold 30,344 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, July 29th. The stock was sold at an average price of $79.20, for a total value of $2,403,244.80. Following the completion of the transaction, the chairman owned 737,413 shares of the company’s stock, valued at approximately $58,403,109.60. This trade represents a 3.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $78.61 on Friday. The firm has a market capitalization of $2.66 billion, a PE ratio of 9.59 and a beta of 1.48. The stock’s fifty day moving average is $76.83 and its 200 day moving average is $74.55. Customers Bancorp, Inc has a fifty-two week low of $59.34 and a fifty-two week high of $82.56. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00.

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Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The business had revenue of $227.28 million for the quarter, compared to analysts’ expectations of $229.24 million. During the same quarter in the previous year, the business posted $1.80 earnings per share. The business’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Customers Bancorp, Inc will post 8.38 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CUBI has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. DA Davidson boosted their price objective on Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 27th. Hovde Group upped their price objective on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Fundamental Research set a $94.00 target price on Customers Bancorp in a research note on Wednesday, July 1st. Finally, Piper Sandler increased their target price on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $90.15.

Check Out Our Latest Stock Report on CUBI

Institutional Trading of Customers Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Arax Advisory Partners raised its position in Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after purchasing an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Customers Bancorp during the 3rd quarter worth $29,000. Bessemer Group Inc. grew its position 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 buying an additional 232 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of Customers Bancorp during the first quarter valued at $37,000. Finally, Transamerica Financial Advisors LLC increased its stake in shares of Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after buying an additional 404 shares during the period. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

(Get Free Report)

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.

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