Customers Bancorp (NYSE:CUBI) Stock: Insider T Lawrence Way Sells 723 Shares

Customers Bancorp, Inc (NYSE:CUBI) Director T. Way sold 723 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $85.16, for a total value of $61,570.68. Following the completion of the transaction, the director directly owned 77,890 shares of the company’s stock, valued at approximately $6,633,112.40. This trade represents a 0.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

T Lawrence Way also recently made the following trade(s):

• On Friday, October 30th, T. Way sold 48,796 shares of Customers Bancorp stock. The shares were sold at an average price of $83.88, for a total transaction of $4,093,008.48.

Customers Bancorp Price Performance

CUBI opened at $84.51 on Friday. The company’s 50-day simple moving average is $78.54 and its two-hundred day simple moving average is $76.06. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $2.85 billion, a P/E ratio of 10.24 and a beta of 1.43. Customers Bancorp, Inc has a 52-week low of $63.44 and a 52-week high of $89.60.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 22nd. The bank reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13. Customers Bancorp had a net margin of 19.11% and a return on equity of 13.73%. The firm had revenue of $240.24 million during the quarter, compared to analyst estimates of $237.18 million. During the same period in the previous year, the business posted $2.20 earnings per share. As a group, analysts predict that Customers Bancorp, Inc will post 8.55 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on CUBI. Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Morgan Stanley reiterated an “underweight” rating and issued a $97.00 price objective on shares of Customers Bancorp in a research note on Monday, October 26th. TD Cowen increased their price objective on shares of Customers Bancorp from $91.00 to $97.00 and gave the stock a “buy” rating in a research note on Monday, October 26th. Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a research report on Friday, September 25th. Finally, DA Davidson set a $107.00 price target on shares of Customers Bancorp in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $94.36.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio purchased a new position in Customers Bancorp in the 2nd quarter worth approximately $40,000. Bessemer Group Inc. grew its stake in shares of Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after buying an additional 232 shares in the last quarter. Versant Capital Management Inc increased its holdings in shares of Customers Bancorp by 41.0% in the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock worth $44,000 after buying an additional 163 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Customers Bancorp in the 2nd quarter worth about $71,000. Finally, Rockefeller Capital Management L.P. raised its position in shares of Customers Bancorp by 528.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,445 shares of the bank’s stock valued at $106,000 after buying an additional 1,215 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Company Profile

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking and financial services to businesses, entrepreneurs, professionals and consumers in the United States.

Customers Bank offers commercial and industrial lending, commercial real estate financing, small business lending, mortgage warehouse financing, venture banking and other specialized credit products. Its services also include business and consumer deposit accounts, cash management, treasury services, online banking and payment solutions.