Insider Selling: Customers Bancorp, Inc. (NYSE:CUBI) CEO Sells 86,578 Shares of Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp 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 transaction, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at approximately $61,662,410.92. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $56.44 on Thursday. The stock has a 50-day moving average price of $47.58 and a 200 day moving average price of $49.17. 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 firm has a market cap of $1.79 billion, a price-to-earnings ratio of 9.16 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 announced 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 firm 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 quarter in the previous year, the business earned $2.59 earnings per share. Research analysts expect that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in Customers Bancorp by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after buying an additional 21,302 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Customers Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after buying an additional 111,654 shares during the last quarter. American Century Companies Inc. boosted its holdings in Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after buying an additional 87,557 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in Customers Bancorp by 94.3% during the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after buying an additional 266,462 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Customers Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after purchasing an additional 12,000 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on CUBI. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Raymond James lowered their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 2nd. B. Riley raised their target price on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Stephens raised their target price on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday. Finally, Keefe, Bruyette & Woods lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $57.00 to $52.00 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 company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price 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.