Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay Sells 4,000 Shares

Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the transaction, the director now directly owns 4,567 shares in the company, valued at approximately $245,613.26. This represents a 46.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Customers Bancorp Stock Up 0.3 %

Customers Bancorp stock traded up $0.14 during trading on Friday, reaching $55.42. 3,031 shares of the company’s stock were exchanged, compared to its average volume of 369,379. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. The company’s 50-day moving average is $48.16 and its two-hundred day moving average is $49.42. The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 9.02 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same quarter last year, the company posted $2.59 EPS. Customers Bancorp’s revenue for the quarter was down 23.2% on a year-over-year basis. On average, analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of CUBI. CWM LLC lifted its stake in Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the last quarter. GAMMA Investing LLC lifted its stake in Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after purchasing an additional 282 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Customers Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock valued at $686,000 after purchasing an additional 300 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in Customers Bancorp by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after purchasing an additional 341 shares during the last quarter. Finally, ProShare Advisors LLC lifted its stake in Customers Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after purchasing an additional 398 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Piper Sandler lowered their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. DA Davidson raised their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 29th. B. Riley raised their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, November 15th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

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.