Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay Sells 4,000 Shares

Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the transaction, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $56.09 on Friday. 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 firm has a market cap of $1.76 billion, a P/E ratio of 9.11 and a beta of 1.61. The business’s fifty day moving average is $48.31 and its two-hundred day moving average is $49.47. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49.

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

Analysts Set New Price Targets

A number of research firms recently weighed in on CUBI. DA Davidson increased their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Piper Sandler decreased their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Keefe, Bruyette & Woods lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $57.00 to $52.00 in a research report on Monday, November 4th. Raymond James decreased their price objective on 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. Finally, 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. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $61.11.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Wedge Capital Management L L P NC bought a new stake in shares of Customers Bancorp during the second quarter worth $2,508,000. Intech Investment Management LLC bought a new stake in Customers Bancorp in the second quarter valued at about $698,000. Thrivent Financial for Lutherans increased its holdings in Customers Bancorp by 26.6% in the second quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank’s stock valued at $3,429,000 after purchasing an additional 15,011 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in Customers Bancorp by 252.1% in the second quarter. Assenagon Asset Management S.A. now owns 253,954 shares of the bank’s stock valued at $12,185,000 after purchasing an additional 181,819 shares during the last quarter. Finally, Denali Advisors LLC increased its holdings in Customers Bancorp by 37.0% in the second quarter. Denali Advisors LLC now owns 47,044 shares of the bank’s stock valued at $2,257,000 after purchasing an additional 12,700 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

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.