Insider Selling: Customers Bancorp (NYSE:CUBI) EVP Sells $188,616.00 in Stock

Customers Bancorp, Inc (NYSE:CUBI) EVP Philip Watkins sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the transaction, the executive vice president directly owned 50,849 shares of the company’s stock, valued at approximately $3,307,218.96. The trade was a 5.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Customers Bancorp Trading Down 0.4%

Shares of NYSE:CUBI opened at $69.07 on Friday. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.01 and a beta of 1.64. The business’s 50 day moving average price is $66.20 and its 200-day moving average price is $62.73. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. Customers Bancorp, Inc has a 1 year low of $40.75 and a 1 year high of $72.51.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The company had revenue of $206.82 million during the quarter. On average, equities research analysts forecast that Customers Bancorp, Inc will post 6.45 earnings per share for the current fiscal year.

Institutional Trading of Customers Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Russell Investments Group Ltd. raised its stake 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 purchasing an additional 3,958 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Customers Bancorp in the 2nd quarter valued at approximately $418,000. Allianz Asset Management GmbH increased its holdings in shares of Customers Bancorp by 34.9% during the 1st quarter. Allianz Asset Management GmbH now owns 8,500 shares of the bank’s stock worth $427,000 after buying an additional 2,200 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Customers Bancorp by 20.3% during the 1st quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock valued at $3,377,000 after buying an additional 11,346 shares during the period. Finally, First Eagle Investment Management LLC raised its position in shares of Customers Bancorp by 15.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock valued at $5,857,000 after buying an additional 13,600 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CUBI shares. National Bankshares set a $89.00 price objective on Customers Bancorp in a research note on Wednesday, September 24th. Keefe, Bruyette & Woods lifted their price target on Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. DA Davidson increased their price objective on Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Cowen restated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Finally, Hovde Group upped their target price on shares of Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Customers Bancorp presently has an average rating of “Moderate Buy” and an average target price of $82.88.

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.