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 business’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the sale, the chief executive officer now owns 1,090,598 shares of the company’s stock, valued at approximately $61,662,410.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Customers Bancorp Stock Down 0.1 %

Shares of CUBI stock opened at $56.44 on Thursday. The stock has a market cap of $1.79 billion, a P/E ratio of 9.16 and a beta of 1.61. Customers Bancorp, Inc. has a one year low of $42.31 and a one year high of $68.49. The stock has a fifty day moving average price of $47.58 and a 200 day moving average price of $49.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Friday, August 9th. Piper Sandler dropped their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. B. Riley increased their price objective on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, StockNews.com cut Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $61.11.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Ridgewood Investments LLC bought a new position in Customers Bancorp in the second quarter worth $48,000. Innealta Capital LLC bought a new position in shares of Customers Bancorp during the second quarter valued at $74,000. GAMMA Investing LLC lifted its holdings 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 valued at $73,000 after acquiring an additional 282 shares during the period. Quest Partners LLC lifted its holdings 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 valued at $76,000 after acquiring an additional 962 shares during the period. Finally, CWM LLC lifted its holdings in shares of Customers Bancorp by 14.2% during 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 during the period. 89.29% of the stock is owned by 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.