Lyle Cunningham Sells 1,000 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) Director Lyle Cunningham sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 3rd. The shares were sold at an average price of $43.06, for a total value of $43,060.00. Following the completion of the sale, the director now directly owns 11,051 shares of the company’s stock, valued at $475,856.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NYSE CUBI traded down $1.07 on Tuesday, reaching $39.78. 21,977 shares of the company traded hands, compared to its average volume of 459,782. Customers Bancorp, Inc. has a fifty-two week low of $33.25 and a fifty-two week high of $76.13. The company has a 50 day moving average of $49.64 and a 200 day moving average of $56.96. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.31 billion, a PE ratio of 3.98 and a beta of 1.58.

Hedge funds have recently modified their holdings of the company. Victory Capital Management Inc. lifted its stake in Customers Bancorp by 501.5% during the fourth quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank’s stock valued at $37,288,000 after purchasing an additional 475,590 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its stake in Customers Bancorp by 258.6% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank’s stock valued at $34,032,000 after buying an additional 375,419 shares during the period. Emerald Advisers LLC increased its stake in shares of Customers Bancorp by 4,060.0% during the 4th quarter. Emerald Advisers LLC now owns 333,636 shares of the bank’s stock worth $21,810,000 after purchasing an additional 325,616 shares during the last quarter. Toroso Investments LLC bought a new stake in shares of Customers Bancorp during the 4th quarter worth $14,603,000. Finally, Kornitzer Capital Management Inc. KS acquired a new position in Customers Bancorp in the 4th quarter valued at approximately $13,336,000. 83.48% of the stock is currently owned by institutional investors and hedge funds.

CUBI has been the topic of several research reports. Wedbush lifted their price objective on Customers Bancorp from $75.00 to $80.00 in a research report on Wednesday, January 26th. StockNews.com initiated coverage on shares of Customers Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Stephens initiated coverage on shares of Customers Bancorp in a research note on Monday, March 28th. They issued an “equal weight” rating and a $62.50 price target on the stock. Zacks Investment Research upgraded Customers Bancorp from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a research report on Friday. Finally, Maxim Group reaffirmed a “buy” rating and issued a $85.00 target price on shares of Customers Bancorp in a research report on Friday, April 29th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $69.31.

About Customers Bancorp (Get Rating)

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 offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

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