Jay S. Sidhu Sells 86,578 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the completion of the sale, the chief executive officer now directly owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Customers Bancorp Trading Up 0.5 %

Shares of NYSE:CUBI traded up $0.31 during midday trading on Tuesday, hitting $56.86. 7,430 shares of the stock were exchanged, compared to its average volume of 369,780. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of 9.18 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The business’s 50-day moving average price is $47.31 and its 200 day moving average price is $49.05. Customers Bancorp, Inc. has a 12 month low of $40.75 and a 12 month high of $68.49.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Hood River Capital Management LLC grew its stake in shares of Customers Bancorp by 94.3% during the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after acquiring an additional 266,462 shares during the period. Assenagon Asset Management S.A. boosted its stake in Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after purchasing an additional 225,785 shares during the period. Peregrine Capital Management LLC bought a new position in Customers Bancorp in the 2nd quarter worth about $7,690,000. Vanguard Group Inc. boosted its stake in Customers Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after purchasing an additional 111,654 shares during the period. Finally, American Century Companies Inc. boosted its stake in Customers Bancorp by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after purchasing an additional 87,557 shares during the period. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CUBI. Piper Sandler lowered 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. StockNews.com lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Raymond James cut their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. Finally, B. Riley raised their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” 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.