Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu Sells 33,173 Shares

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 33,173 shares of Customers Bancorp stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $57.25, for a total value of $1,899,154.25. Following the completion of the sale, the chief executive officer now owns 1,032,723 shares in the company, valued at approximately $59,123,391.75. The trade was a 3.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Customers Bancorp Stock Up 2.1 %

Shares of CUBI stock traded up $1.20 on Tuesday, reaching $57.44. 315,587 shares of the stock were exchanged, compared to its average volume of 364,508. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 11.31 and a beta of 1.68. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average price is $51.65 and its 200 day moving average price is $50.91. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, sell-side analysts expect that Customers Bancorp, Inc. will post 6.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CUBI. B. Riley boosted their price target 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. Piper Sandler decreased their target price on shares of 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 increased their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their price target on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, Stephens reissued an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Institutional Trading of Customers Bancorp

Large investors have recently made changes to their positions in the company. Basswood Capital Management L.L.C. acquired a new position in Customers Bancorp during the third quarter worth approximately $26,000. R Squared Ltd acquired a new position in shares of Customers Bancorp in the 4th quarter valued at $42,000. KBC Group NV raised its position in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares during the last quarter. GAMMA Investing LLC boosted its stake in Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares during the period. Finally, Quest Partners LLC grew its position in Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.