Insider Buying: Customers Bancorp, Inc. (NYSE:CUBI) Director Purchases 500 Shares of Stock

Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) Director Bernard Bennett Banks acquired 500 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were acquired at an average price of $39.97 per share, with a total value of $19,985.00. Following the completion of the purchase, the director now owns 2,156 shares in the company, valued at approximately $86,175.32. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of NYSE CUBI opened at $38.44 on Thursday. Customers Bancorp, Inc. has a one year low of $33.25 and a one year high of $76.13. The firm has a market cap of $1.27 billion, a PE ratio of 3.84 and a beta of 1.58. The firm has a fifty day moving average of $48.76 and a 200 day moving average of $56.71. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81.

Several institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Customers Bancorp by 75.0% during the first quarter. Victory Capital Management Inc. now owns 998,379 shares of the bank’s stock worth $50,272,000 after buying an additional 427,959 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Customers Bancorp by 5.9% during the fourth quarter. JPMorgan Chase & Co. now owns 557,238 shares of the bank’s stock worth $36,427,000 after buying an additional 30,974 shares in the last quarter. Emerald Mutual Fund Advisers Trust grew its holdings in shares of Customers Bancorp by 4.2% during the first quarter. Emerald Mutual Fund Advisers Trust now owns 542,695 shares of the bank’s stock worth $28,296,000 after buying an additional 22,095 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Customers Bancorp by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 522,349 shares of the bank’s stock worth $34,145,000 after buying an additional 2,223 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Customers Bancorp by 17.5% during the third quarter. Lord Abbett & CO. LLC now owns 481,862 shares of the bank’s stock worth $20,730,000 after buying an additional 71,600 shares in the last quarter. 83.48% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on CUBI. Wedbush lifted their target price on shares of Customers Bancorp from $75.00 to $80.00 in a report on Wednesday, January 26th. Maxim Group reaffirmed a “buy” rating and set a $85.00 target price on shares of Customers Bancorp in a report on Friday, April 29th. B. Riley cut their target price on shares of Customers Bancorp from $100.00 to $90.00 in a report on Tuesday, April 12th. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $48.00 target price for the company in a report on Friday, May 6th. Finally, Keefe, Bruyette & Woods raised shares of Customers Bancorp from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $72.00 to $80.00 in a report on Monday, March 28th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target 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.

Read More