Insider Selling: Customers Bancorp (NYSE:CUBI) CEO Sells 22,172 Shares of Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 22,172 shares of Customers Bancorp stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $67.76, for a total value of $1,502,374.72. Following the sale, the chief executive officer directly owned 967,859 shares in the company, valued at approximately $65,582,125.84. This trade represents a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Customers Bancorp Stock Performance

Customers Bancorp stock traded up $0.89 during trading hours on Friday, hitting $67.56. The stock had a trading volume of 200,382 shares, compared to its average volume of 313,619. The company has a 50-day moving average of $66.79 and a two-hundred day moving average of $60.93. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. Customers Bancorp, Inc has a fifty-two week low of $40.75 and a fifty-two week high of $72.51. The company has a market cap of $2.14 billion, a PE ratio of 13.70 and a beta of 1.64.

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

Institutional Investors Weigh In On Customers Bancorp

A number of hedge funds have recently made changes to their positions in the company. CenterBook Partners LP lifted its holdings in Customers Bancorp by 77.1% during the 3rd quarter. CenterBook Partners LP now owns 27,789 shares of the bank’s stock valued at $1,817,000 after purchasing an additional 12,101 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Customers Bancorp by 3.9% during the third quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank’s stock worth $140,892,000 after buying an additional 81,200 shares in the last quarter. CENTRAL TRUST Co bought a new position in shares of Customers Bancorp in the third quarter valued at approximately $131,000. Public Sector Pension Investment Board boosted its holdings in shares of Customers Bancorp by 11.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 133,689 shares of the bank’s stock worth $8,739,000 after acquiring an additional 13,464 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in Customers Bancorp by 5.7% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 16,058 shares of the bank’s stock worth $1,050,000 after acquiring an additional 872 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CUBI shares. B. Riley reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Customers Bancorp in a research report on Wednesday, October 8th. Keefe, Bruyette & Woods increased their price target on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. Zacks Research upgraded shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th. Finally, Stephens lifted their price objective on Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.