Jay S. Sidhu Sells 67,000 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 67,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the transaction, the chief executive officer now owns 965,723 shares in the company, valued at $54,872,380.86. This represents a 6.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Customers Bancorp Stock Performance

Shares of NYSE CUBI opened at $57.78 on Thursday. 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 one year low of $42.31 and a one year high of $68.49. The business has a fifty day simple moving average of $51.69 and a 200 day simple moving average of $50.93. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Sell-side analysts expect that Customers Bancorp, Inc. will post 6.33 EPS for the current year.

Wall Street Analysts Forecast Growth

CUBI has been the subject of a number of research reports. B. Riley increased their price target on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Piper Sandler decreased their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. Maxim Group boosted their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, DA Davidson boosted their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Six equities research 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Hedge Funds Weigh In On Customers Bancorp

Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can increased its position in Customers Bancorp by 47.4% during the 2nd quarter. Bank of Montreal Can now owns 8,900 shares of the bank’s stock worth $429,000 after purchasing an additional 2,862 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Customers Bancorp by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 15,164 shares of the bank’s stock worth $728,000 after buying an additional 834 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Customers Bancorp by 10.4% in the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after purchasing an additional 549 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Customers Bancorp during the 2nd quarter worth approximately $391,000. Finally, SG Americas Securities LLC purchased a new position in shares of Customers Bancorp in the 3rd quarter worth approximately $244,000. 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.