Customers Bancorp (NYSE:CUBI) EVP Philip Watkins Sells 5,500 Shares of Company Stock

Customers Bancorp, Inc (NYSE:CUBI) EVP Philip Watkins sold 5,500 shares of the firm’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $86.17, for a total transaction of $473,935.00. Following the transaction, the executive vice president owned 41,102 shares in the company, valued at $3,541,759.34. This represents a 11.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Customers Bancorp Stock Up 2.1%

Shares of CUBI stock traded up $1.75 on Wednesday, hitting $87.22. The company’s stock had a trading volume of 270,499 shares, compared to its average volume of 340,527. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.96. Customers Bancorp, Inc has a fifty-two week low of $63.44 and a fifty-two week high of $89.60. The firm’s fifty day moving average price is $78.25 and its 200-day moving average price is $75.98. The stock has a market capitalization of $2.95 billion, a price-to-earnings ratio of 10.57 and a beta of 1.43.

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

Wall Street Analysts Forecast Growth

CUBI has been the subject of a number of analyst reports. TD Cowen boosted their price target on Customers Bancorp from $91.00 to $97.00 and gave the stock a “buy” rating in a research report on Monday, October 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a report on Friday, September 25th. Morgan Stanley reissued an “underweight” rating and set a $97.00 price objective on shares of Customers Bancorp in a report on Monday, October 26th. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, Piper Sandler restated an “overweight” rating and issued a $102.00 target price (up from $92.00) on shares of Customers Bancorp in a report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $94.36.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CUBI. Summit Global Investments bought a new stake in Customers Bancorp during the second quarter valued at about $1,016,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Customers Bancorp in the second quarter valued at about $1,618,000. Quantinno Capital Management LP grew its position in shares of Customers Bancorp by 73.3% in the first quarter. Quantinno Capital Management LP now owns 20,387 shares of the bank’s stock valued at $1,415,000 after purchasing an additional 8,624 shares during the last quarter. Deutsche Bank AG acquired a new stake in shares of Customers Bancorp in the second quarter valued at about $2,623,000. Finally, Jupiter Topco LLC bought a new position in shares of Customers Bancorp in the second quarter worth about $1,244,000. Institutional investors own 89.29% of the company’s stock.

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.