Samvir S. Sidhu Acquires 2,500 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Samvir S. Sidhu purchased 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the transaction, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Customers Bancorp Price Performance

Shares of CUBI opened at $47.86 on Friday. Customers Bancorp, Inc. has a twelve month low of $31.16 and a twelve month high of $68.49. The company has a market capitalization of $1.51 billion, a P/E ratio of 6.71 and a beta of 1.65. The firm has a 50 day moving average of $52.04 and a 200 day moving average of $50.78. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The business had revenue of $198.69 million during the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.65 EPS. As a group, equities research analysts anticipate that Customers Bancorp, Inc. will post 6.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on CUBI shares. DA Davidson boosted their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research note on Friday, August 9th. Wedbush upped their price objective on shares of Customers Bancorp from $56.00 to $79.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Jefferies Financial Group lowered their target price on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, July 3rd. Finally, B. Riley upped their price target on Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $65.50.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds have recently bought and sold shares of the business. Access Investment Management LLC purchased a new stake in shares of Customers Bancorp during the 4th quarter valued at about $16,194,000. Hillsdale Investment Management Inc. bought a new stake in Customers Bancorp in the 1st quarter worth approximately $4,266,000. SG Americas Securities LLC raised its stake in Customers Bancorp by 208.5% during the 1st quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock valued at $1,148,000 after buying an additional 14,621 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Customers Bancorp during the 1st quarter valued at $1,333,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Customers Bancorp by 51.1% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 71,000 shares of the bank’s stock worth $4,091,000 after buying an additional 24,000 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.