Jay Sidhu Sells 13,595 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 13,595 shares of Customers Bancorp stock in a transaction on Monday, November 10th. The shares were sold at an average price of $68.69, for a total transaction of $933,840.55. Following the completion of the transaction, the chief executive officer owned 953,001 shares in the company, valued at approximately $65,461,638.69. This trade represents a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Customers Bancorp Stock Performance

Shares of CUBI opened at $66.89 on Friday. The stock has a market capitalization of $2.29 billion, a P/E ratio of 13.57 and a beta of 1.64. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $72.51. The company’s fifty day moving average is $66.40 and its two-hundred day moving average is $61.62.

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

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently modified their holdings of the company. Entropy Technologies LP purchased a new position in Customers Bancorp in the 3rd quarter valued at approximately $326,000. Sei Investments Co. lifted its holdings in shares of Customers Bancorp by 7.0% in the third quarter. Sei Investments Co. now owns 120,216 shares of the bank’s stock valued at $7,859,000 after purchasing an additional 7,908 shares in the last quarter. UBS Group AG grew its position in shares of Customers Bancorp by 5.6% in the third quarter. UBS Group AG now owns 222,208 shares of the bank’s stock valued at $14,526,000 after purchasing an additional 11,714 shares during the last quarter. BNP Paribas Financial Markets grew its position in shares of Customers Bancorp by 199.5% in the third quarter. BNP Paribas Financial Markets now owns 39,835 shares of the bank’s stock valued at $2,604,000 after purchasing an additional 26,534 shares during the last quarter. Finally, Franklin Resources Inc. increased its stake in shares of Customers Bancorp by 3.3% during the 3rd quarter. Franklin Resources Inc. now owns 64,820 shares of the bank’s stock worth $4,237,000 after purchasing an additional 2,058 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. TD Cowen lifted their price objective on Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. Weiss Ratings reissued a “hold (c)” rating on shares of Customers Bancorp in a report on Wednesday, October 8th. Wall Street Zen upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. DA Davidson upped their price objective on Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Finally, Stephens increased their price objective on Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $82.88.

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.