Jay S. Sidhu Sells 860 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBIGet Free Report) CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total transaction of $47,067.80. Following the sale, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at approximately $65,114,360.74. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $56.44 on Thursday. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49. The company has a market capitalization of $1.79 billion, a PE ratio of 9.16 and a beta of 1.61. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The firm has a fifty day simple moving average of $47.58 and a 200-day simple moving average of $49.17.

Customers Bancorp (NYSE:CUBIGet Free Report) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). The firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. Customers Bancorp’s revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 earnings per share. Equities research analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. StockNews.com cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Piper Sandler decreased their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price target for the company from $57.00 to $52.00 in a research note on Monday, November 4th. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, DA Davidson lifted their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.11.

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Hedge Funds Weigh In On Customers Bancorp

Several institutional investors have recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of Customers Bancorp during the second quarter valued at approximately $48,000. GAMMA Investing LLC boosted its position in shares of Customers Bancorp by 21.7% in the 3rd 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 period. Innealta Capital LLC purchased a new position in shares of Customers Bancorp in the second quarter worth approximately $74,000. Quest Partners LLC raised its stake in Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares during the period. Finally, CWM LLC lifted its stake in Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

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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.

Further Reading

Insider Buying and Selling by Quarter for Customers Bancorp (NYSE:CUBI)

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