Insider Selling: Customers Bancorp, Inc. (NYSE:CUBI) CEO Sells 33,173 Shares of Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 33,173 shares of the business’s stock in a transaction that occurred 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Customers Bancorp Trading Up 0.6 %

CUBI opened at $57.78 on Thursday. The company’s 50 day moving average price is $51.69 and its two-hundred day moving average price is $50.93. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 11.37 and a beta of 1.68. 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.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. As a group, research analysts predict that Customers Bancorp, Inc. will post 6.33 earnings per share for the current year.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. increased its position in Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after purchasing an additional 225,785 shares during the period. State Street Corp increased its position in shares of Customers Bancorp by 10.5% during the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after buying an additional 169,982 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock worth $13,621,000 after buying an additional 90,451 shares during the last quarter. Wolverine Asset Management LLC acquired a new position in Customers Bancorp in the third quarter valued at $3,470,000. Finally, Walleye Capital LLC boosted its position in Customers Bancorp by 536.3% during the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock valued at $1,786,000 after acquiring an additional 32,407 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on CUBI shares. Stephens reiterated an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a research note on Friday, January 24th. Maxim Group boosted their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday, January 27th. DA Davidson lifted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” 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 note on Sunday, December 1st. Six research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

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.