Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu Sells 860 Shares

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total transaction of $47,067.80. Following the sale, the chief executive officer now directly owns 1,189,738 shares in the company, valued at $65,114,360.74. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Customers Bancorp Price Performance

CUBI opened at $55.09 on Friday. The company has a fifty day simple moving average of $47.70 and a 200 day simple moving average of $49.21. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.73 billion, a P/E ratio of 8.94 and a beta of 1.61. Customers Bancorp, Inc. has a 12 month low of $42.31 and a 12 month high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same period in the prior year, the business earned $2.59 EPS. The company’s revenue for the quarter was down 23.2% compared to the same quarter last year. On average, research analysts expect that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CUBI shares. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a report on Friday, August 9th. Keefe, Bruyette & Woods lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $57.00 to $52.00 in a research note on Monday, November 4th. StockNews.com lowered Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Monday, November 4th. Stephens upped their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Raymond James lowered their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Customers Bancorp has an average rating of “Hold” and an average price target of $61.11.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Basswood Capital Management L.L.C. acquired a new stake in shares of Customers Bancorp in the third quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in Customers Bancorp during the 2nd quarter worth about $48,000. GAMMA Investing LLC grew its holdings in shares of Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares in the last quarter. Innealta Capital LLC bought a new position in shares of Customers Bancorp in the 2nd quarter valued at about $74,000. Finally, Quest Partners LLC raised its holdings in Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after acquiring an additional 962 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.