Jay S. Sidhu Sells 51,240 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Jay S. Sidhu sold 51,240 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $41.47, for a total transaction of $2,124,922.80. Following the transaction, the chief executive officer now owns 1,177,385 shares in the company, valued at $48,826,155.95. The sale was disclosed in a filing with the SEC, which is available through this link.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $44.69 on Friday. The firm has a market capitalization of $1.40 billion, a P/E ratio of 7.10 and a beta of 1.60. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.20. The company has a 50 day moving average price of $34.47 and a 200 day moving average price of $31.16. Customers Bancorp, Inc. has a 52 week low of $6.87 and a 52 week high of $45.62.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fifth Third Bancorp raised its position in shares of Customers Bancorp by 81.0% in the 2nd quarter. Fifth Third Bancorp now owns 970 shares of the bank’s stock valued at $29,000 after purchasing an additional 434 shares during the last quarter. Parallel Advisors LLC raised its position in Customers Bancorp by 8,341.7% during the 2nd quarter. Parallel Advisors LLC now owns 1,013 shares of the bank’s stock worth $31,000 after buying an additional 1,001 shares during the last quarter. BluePath Capital Management LLC purchased a new position in Customers Bancorp during the 3rd quarter worth approximately $31,000. Gyon Technologies Capital Management LP purchased a new position in Customers Bancorp during the 4th quarter worth approximately $38,000. Finally, Tower Research Capital LLC TRC raised its position in Customers Bancorp by 129.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock worth $41,000 after buying an additional 1,253 shares during the last quarter. 82.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. DA Davidson increased their price target on shares of Customers Bancorp from $42.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, July 31st. Raymond James assumed coverage on shares of Customers Bancorp in a research report on Thursday, September 28th. They set a “strong-buy” rating and a $60.00 price target for the company. Wedbush reissued an “outperform” rating and set a $50.00 price target on shares of Customers Bancorp in a research report on Wednesday, September 6th. StockNews.com assumed coverage on shares of Customers Bancorp in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, Jefferies Financial Group decreased their price target on shares of Customers Bancorp from $51.00 to $42.00 in a research report on Tuesday, October 10th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Customers Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $49.63.

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.