Jay Sidhu Sells 7,479 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Jay Sidhu sold 7,479 shares of the business’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $70.06, for a total value of $523,978.74. Following the transaction, the chief executive officer owned 918,216 shares of the company’s stock, valued at $64,330,212.96. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $68.90 on Friday. The stock has a 50 day moving average price of $66.24 and a 200 day moving average price of $62.89. Customers Bancorp, Inc has a 52-week low of $40.75 and a 52-week high of $72.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market capitalization of $2.35 billion, a P/E ratio of 13.98 and a beta of 1.64.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The business had revenue of $206.82 million for the quarter. As a group, sell-side analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of CUBI. Wellington Management Group LLP raised its holdings in Customers Bancorp by 34.3% in the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after purchasing an additional 902,406 shares in the last quarter. Nuveen LLC purchased a new position in shares of Customers Bancorp in the 1st quarter worth approximately $26,652,000. Anatole Investment Management Ltd bought a new position in shares of Customers Bancorp during the 2nd quarter worth approximately $17,593,000. Millennium Management LLC raised its stake in shares of Customers Bancorp by 448.8% during the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after acquiring an additional 268,056 shares in the last quarter. Finally, Emerald Advisers LLC purchased a new stake in Customers Bancorp during the third quarter valued at approximately $15,150,000. 89.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Hovde Group raised their target price on shares of Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a research report on Thursday, October 30th. TD Cowen lifted their price target on shares of Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, October 27th. Cowen reiterated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Finally, Stephens raised their price objective on Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $82.88.

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.