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

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total transaction of $47,067.80. Following the transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $56.50 on Wednesday. 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 1 year low of $40.75 and a 1 year high of $68.49. The firm has a 50 day moving average price of $47.44 and a 200 day moving average price of $49.12. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 9.17 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data 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 return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter in the prior year, the firm earned $2.59 earnings per share. Customers Bancorp’s quarterly revenue was down 23.2% compared to the same quarter last year. Sell-side analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CUBI shares. Piper Sandler cut their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Raymond James lowered their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. Hovde Group downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a report on Friday, August 9th. Stephens lifted their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $61.11.

Institutional Investors Weigh In On Customers Bancorp

Several institutional investors have recently bought and sold shares of CUBI. Ridgewood Investments LLC acquired a new position in shares of Customers Bancorp during the second quarter worth $48,000. Innealta Capital LLC acquired a new position in shares of Customers Bancorp during the second quarter worth $74,000. GAMMA Investing LLC lifted its position in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares in the last quarter. Quest Partners LLC lifted its position in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares in the last quarter. Finally, CWM LLC raised its holdings in Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after acquiring an additional 274 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.