Customers Bancorp (NYSE:CUBI) CEO Jay Sidhu Sells 1,263 Shares

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 1,263 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $67.75, for a total value of $85,568.25. Following the transaction, the chief executive officer owned 966,596 shares in the company, valued at approximately $65,486,879. This trade represents a 0.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Customers Bancorp Price Performance

Shares of NYSE:CUBI traded up $0.89 during trading on Friday, reaching $67.56. 200,382 shares of the company traded hands, compared to its average volume of 313,619. The firm has a market capitalization of $2.14 billion, a PE ratio of 13.70 and a beta of 1.64. Customers Bancorp, Inc has a 52 week low of $40.75 and a 52 week high of $72.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The company’s 50 day moving average is $66.79 and its two-hundred day moving average is $60.93.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Monday, September 8th. The bank reported $1.80 EPS for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The company had revenue of $206.82 million for the quarter. As a group, sell-side analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CUBI has been the subject of a number of recent analyst reports. TD Cowen upped their price target on shares of Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Zacks Research upgraded shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Stephens raised their target price on Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Wall Street Zen upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, Hovde Group upped their price objective on Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $82.88.

Institutional Trading of Customers Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. grew its holdings in Customers Bancorp by 5.2% during the 1st quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank’s stock worth $4,049,000 after acquiring an additional 3,958 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in shares of Customers Bancorp by 34.9% during the first quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank’s stock worth $427,000 after purchasing an additional 2,200 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Customers Bancorp in the second quarter worth $418,000. Intech Investment Management LLC increased its holdings in Customers Bancorp by 20.3% in the first quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock valued at $3,377,000 after purchasing an additional 11,346 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Customers Bancorp during the 2nd quarter worth $239,000. 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.