Insider Selling: Customers Bancorp, Inc. (NYSE:CUBI) Director Sells $215,120.00 in Stock

Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay sold 4,000 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the transaction, the director now owns 4,567 shares of the company’s stock, valued at $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Customers Bancorp Trading Up 1.5 %

Shares of NYSE:CUBI opened at $56.11 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 9.11 and a beta of 1.61. The business has a 50-day moving average price of $48.47 and a 200-day moving average price of $49.55.

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

Institutional Investors Weigh In On Customers Bancorp

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its stake in shares of Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after buying an additional 274 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the period. Louisiana State Employees Retirement System boosted its position in Customers Bancorp by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock worth $686,000 after purchasing an additional 300 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Customers Bancorp by 1.7% during the 2nd quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock worth $994,000 after purchasing an additional 341 shares during the period. Finally, ProShare Advisors LLC increased its holdings in shares of Customers Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after purchasing an additional 398 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CUBI has been the subject of several recent analyst reports. DA Davidson boosted their price objective 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. Keefe, Bruyette & Woods lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $57.00 to $52.00 in a report on Monday, November 4th. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research note on Friday, August 9th. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Finally, Stephens boosted their price target on Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price 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.