Insider Selling: Customers Bancorp, Inc. (NYSE:CUBI) CEO Sells 33,173 Shares of Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 33,173 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the transaction, the chief executive officer now directly owns 1,032,723 shares in the company, valued at $59,123,391.75. The trade was a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Customers Bancorp Trading Up 0.7 %

Shares of Customers Bancorp stock opened at $58.21 on Friday. The business has a fifty day simple moving average of $51.71 and a 200-day simple moving average of $50.98. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of 11.46 and a beta of 1.68. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77.

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

Analyst Ratings Changes

Several analysts have issued reports on CUBI shares. B. Riley upped their price objective on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. 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. Keefe, Bruyette & Woods lifted their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. Stephens reissued an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. Finally, Maxim Group lifted their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $64.00.

Institutional Trading of Customers Bancorp

A number of large investors have recently added to or reduced their stakes in CUBI. Basswood Capital Management L.L.C. acquired a new stake in shares of Customers Bancorp during the 3rd quarter valued at $26,000. R Squared Ltd acquired a new position in Customers Bancorp in the 4th quarter valued at approximately $42,000. KBC Group NV increased its stake in shares of Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after acquiring an additional 677 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares in the last quarter. Finally, Quest Partners LLC grew its position in Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after acquiring an additional 962 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.