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

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 67,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the completion of the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Customers Bancorp Stock Performance

Shares of CUBI opened at $57.44 on Wednesday. The company has a market capitalization of $1.80 billion, a PE ratio of 11.31 and a beta of 1.68. 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, Inc. has a one year low of $42.31 and a one year high of $68.49. The company’s fifty day moving average price is $51.67 and its 200 day moving average price is $50.88.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping 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, analysts expect that Customers Bancorp, Inc. will post 6.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CUBI. Intech Investment Management LLC increased its position in Customers Bancorp by 74.2% during the third quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock worth $1,177,000 after acquiring an additional 10,797 shares during the period. BNP Paribas Financial Markets grew its position in Customers Bancorp by 117.9% in the 3rd 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 during the last quarter. Walleye Capital LLC grew its position in Customers Bancorp by 536.3% in the 3rd quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock worth $1,786,000 after purchasing an additional 32,407 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after purchasing an additional 225,785 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Customers Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after buying an additional 12,000 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CUBI has been the subject of a number of recent research reports. B. Riley raised their price target on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Piper Sandler cut their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Maxim Group boosted their target price 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. Keefe, Bruyette & Woods raised their price target on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Finally, Stephens reiterated an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Customers Bancorp Company Profile

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.