Customers Bancorp (NYSE:CUBI) Director T Lawrence Way Sells 723 Shares of Company Stock

Customers Bancorp, Inc (NYSE:CUBI) Director T. Way sold 723 shares of the stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $85.16, for a total transaction 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. The trade was a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 value of $4,093,008.48.

Customers Bancorp Stock Performance

Customers Bancorp stock opened at $87.22 on Thursday. Customers Bancorp, Inc has a fifty-two week low of $63.44 and a fifty-two week high of $89.60. The stock’s 50 day simple moving average is $78.42 and its two-hundred day simple moving average is $76.03. 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 cap of $2.95 billion, a price-to-earnings ratio of 10.57 and a beta of 1.43.

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. raised their price objective on Customers Bancorp from $92.00 to $100.00 and gave the company an “overweight” rating in a research report on Monday, October 26th. TD Cowen upped their target price on shares of 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 reiterated a “buy (b)” rating on shares of Customers Bancorp in a research note on Friday, September 25th. Morgan Stanley reiterated an “underweight” rating and issued a $97.00 price target on shares of Customers Bancorp in a research note on Monday, October 26th. Finally, DA Davidson set a $107.00 price target on shares of Customers Bancorp in a research report on Monday, October 26th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $94.36.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in shares of Customers Bancorp in the 2nd quarter worth about $385,165,000. Tieton Capital Management LLC bought a new position in Customers Bancorp in the 2nd quarter worth about $20,264,000. Bank of New York Mellon Corp purchased a new stake in Customers Bancorp during the 2nd quarter valued at about $16,369,000. Empowered Funds LLC purchased a new stake in Customers Bancorp during the 2nd quarter valued at about $12,505,000. Finally, Heartland Advisors Inc. purchased a new stake in Customers Bancorp during the 2nd quarter valued at about $11,865,000. 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.