Jay S. Sidhu Sells 33,173 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 33,173 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $57.25, for a total transaction of $1,899,154.25. Following the completion of the sale, the chief executive officer now owns 1,032,723 shares of the company’s stock, valued at approximately $59,123,391.75. This represents a 3.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Customers Bancorp Stock Up 0.6 %

CUBI stock opened at $57.78 on Thursday. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 11.37 and a beta of 1.68. The business’s fifty day moving average price is $51.69 and its two-hundred day moving average price is $50.93.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. On average, equities analysts anticipate that Customers Bancorp, Inc. will post 6.33 earnings per share for the current year.

Analyst Ratings Changes

CUBI has been the subject of several recent analyst reports. Maxim Group raised their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, January 27th. B. Riley raised their price objective on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Stephens reissued an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Six analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.00.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. Basswood Capital Management L.L.C. acquired a new stake in Customers Bancorp during the third quarter worth approximately $26,000. R Squared Ltd bought a new stake in shares of Customers Bancorp during the 4th quarter valued at $42,000. GAMMA Investing LLC grew its holdings in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares in the last quarter. KBC Group NV increased its position in shares of Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after purchasing an additional 677 shares during the period. Finally, Quest Partners LLC raised its stake in Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.