Customers Bancorp, Inc. (NYSE:CUBI) Insider Glenn Hedde Sells 15,815 Shares

Customers Bancorp, Inc. (NYSE:CUBI) insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of the transaction, the insider now owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Glenn Hedde also recently made the following trade(s):

• On Wednesday, November 6th, Glenn Hedde sold 5,002 shares of Customers Bancorp stock. The shares were sold at an average price of $53.68, for a total value of $268,507.36.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $57.15 on Friday. The firm has a fifty day moving average of $51.66 and a two-hundred day moving average of $51.12. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 9.28 and a beta of 1.68. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. As a group, equities research analysts predict that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CUBI. Piper Sandler lowered 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. DA Davidson raised their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday. B. Riley upped their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stephens reissued an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped their price objective on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Institutional Trading of Customers Bancorp

Hedge funds have recently modified their holdings of the company. Intech Investment Management LLC grew its holdings in Customers Bancorp by 74.2% during the third quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock valued at $1,177,000 after purchasing an additional 10,797 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Customers Bancorp by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock worth $1,878,000 after purchasing an additional 21,871 shares in the last quarter. Walleye Capital LLC grew its holdings in shares of Customers Bancorp by 536.3% in the 3rd quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock valued at $1,786,000 after buying an additional 32,407 shares during the period. Assenagon Asset Management S.A. increased its position in shares of Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after buying an additional 225,785 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Customers Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after buying an additional 12,000 shares during the period. 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.