Customers Bancorp, Inc. (NYSE:CUBI) Insider Glenn Hedde Sells 15,815 Shares

Customers Bancorp, Inc. (NYSE:CUBI) insider Glenn Hedde sold 15,815 shares of the stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now owns 55,211 shares of the company’s stock, valued at $3,216,040.75. The trade was a 22.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Glenn Hedde also recently made the following trade(s):

• On Wednesday, November 6th, Glenn Hedde sold 5,002 shares of Customers Bancorp stock. The shares were sold at an average price of $53.68, for a total value of $268,507.36.

Customers Bancorp Trading Down 0.6 %

Shares of NYSE:CUBI opened at $56.98 on Friday. The company has a market cap of $1.79 billion, a P/E ratio of 11.22 and a beta of 1.68. The stock’s 50-day moving average is $51.68 and its 200-day moving average is $51.11. Customers Bancorp, Inc. has a 52-week low of $42.31 and a 52-week high of $68.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Equities research analysts predict that Customers Bancorp, Inc. will post 6.33 earnings per share for the current year.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Basswood Capital Management L.L.C. acquired a new stake in Customers Bancorp during the third quarter worth about $26,000. R Squared Ltd acquired a new stake in Customers Bancorp during the fourth quarter worth about $42,000. KBC Group NV grew its position in Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after buying an additional 677 shares in the last quarter. GAMMA Investing LLC grew its position in 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 buying an additional 282 shares in the last quarter. Finally, Quest Partners LLC grew its position 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 buying an additional 962 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stephens restated an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. B. Riley increased their target price on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Keefe, Bruyette & Woods increased their price objective on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Maxim Group increased their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Finally, DA Davidson increased their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Customers Bancorp Company Profile

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.