Insider Selling: Customers Bancorp (NYSE:CUBI) CEO Sells $1,686,551.20 in Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 24,784 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $68.05, for a total value of $1,686,551.20. Following the completion of the transaction, the chief executive officer directly owned 928,217 shares in the company, valued at $63,165,166.85. The trade was a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Customers Bancorp Trading Down 0.5%

CUBI stock opened at $66.77 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 13.54 and a beta of 1.64. The business has a fifty day moving average price of $66.38 and a 200 day moving average price of $61.75. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.51.

Customers Bancorp (NYSE:CUBI) last announced its 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. Analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its holdings in Customers Bancorp by 5.2% during the first quarter. Russell Investments Group Ltd. now owns 80,652 shares of the bank’s stock worth $4,049,000 after buying an additional 3,958 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Customers Bancorp in the 2nd quarter valued at about $418,000. Allianz Asset Management GmbH raised its position in shares of Customers Bancorp by 34.9% in the 1st quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank’s stock valued at $427,000 after acquiring an additional 2,200 shares during the period. Intech Investment Management LLC boosted its stake in Customers Bancorp by 20.3% during the 1st quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock worth $3,377,000 after acquiring an additional 11,346 shares during the last quarter. Finally, First Eagle Investment Management LLC grew its holdings in Customers Bancorp by 15.8% during the second quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock valued at $5,857,000 after purchasing an additional 13,600 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on CUBI shares. Stephens boosted their target price on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Zacks Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. National Bankshares set a $89.00 price objective on Customers Bancorp in a report on Wednesday, September 24th. Cowen reiterated a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. Finally, Hovde Group lifted their target price on Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus target price 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.