Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu Sells 86,578 Shares

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 86,578 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the sale, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at approximately $61,662,410.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock traded up $0.31 during trading hours on Tuesday, reaching $56.86. The company’s stock had a trading volume of 7,430 shares, compared to its average volume of 369,780. The stock has a market cap of $1.80 billion, a P/E ratio of 9.18 and a beta of 1.61. The company’s 50 day simple moving average is $47.31 and its 200 day simple moving average is $49.05. Customers Bancorp, Inc. has a one year low of $40.75 and a one year high of $68.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.59 earnings per share. As a group, analysts expect that Customers Bancorp, Inc. will post 5.63 EPS for the current fiscal year.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds have recently made changes to their positions in CUBI. CWM LLC boosted its holdings in shares of Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after buying an additional 274 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares during the period. Louisiana State Employees Retirement System boosted its holdings in shares of Customers Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock worth $686,000 after purchasing an additional 300 shares during the period. SummerHaven Investment Management LLC lifted its stake in Customers Bancorp by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after acquiring an additional 341 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its position in shares of Customers Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after purchasing an additional 353 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CUBI. B. Riley raised their price target on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Raymond James reduced their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Keefe, Bruyette & Woods lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $57.00 to $52.00 in a research note on Monday, November 4th. StockNews.com downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a report on Monday, November 4th. Finally, Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price target for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Customers Bancorp presently has a consensus rating of “Hold” and a consensus price target of $61.11.

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.