Robert Neil Mackay Sells 4,000 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $56.11 on Monday. The business has a 50-day simple moving average of $48.47 and a 200-day simple moving average of $49.55. 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 one year low of $42.31 and a one year high of $68.49. The company has a market cap of $1.76 billion, a PE ratio of 9.11 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last posted its quarterly 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). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same quarter last year, the firm earned $2.59 EPS. The company’s revenue was down 23.2% on a year-over-year basis. On average, equities research analysts forecast that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Analysts Set New Price Targets

CUBI has been the subject of a number of research analyst reports. Stephens increased their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday, November 11th. Keefe, Bruyette & Woods cut Customers Bancorp from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $57.00 to $52.00 in a research note on Monday, November 4th. B. Riley increased their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note 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 for the company. in a research report on Friday, August 9th. Finally, StockNews.com cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $61.11.

Hedge Funds Weigh In On Customers Bancorp

Several large investors have recently bought and sold shares of the business. Basswood Capital Management L.L.C. purchased a new stake in Customers Bancorp during the 3rd quarter worth about $26,000. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter worth about $48,000. GAMMA Investing LLC boosted 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 purchasing an additional 282 shares in the last quarter. Innealta Capital LLC purchased a new position in Customers Bancorp in the second quarter valued at approximately $74,000. Finally, Quest Partners LLC raised its holdings in 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. 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.