Customers Bancorp, Inc. (NYSE:CUBI) Insider Sells $921,223.75 in Stock

Customers Bancorp, Inc. (NYSE:CUBI) insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the sale, the insider now directly owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This represents a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Glenn Hedde also recently made the following trade(s):

• On Wednesday, November 6th, Glenn Hedde sold 5,002 shares of Customers Bancorp stock. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36.

Customers Bancorp Stock Down 0.1 %

Shares of CUBI traded down $0.06 during mid-day trading on Thursday, hitting $57.15. 209,353 shares of the company’s stock were exchanged, compared to its average volume of 370,966. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49. The firm has a fifty day moving average of $51.63 and a two-hundred day moving average of $51.08. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of 9.28 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. On average, sell-side analysts forecast that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of Montreal Can grew its holdings in Customers Bancorp by 47.4% in the 2nd quarter. Bank of Montreal Can now owns 8,900 shares of the bank’s stock valued at $429,000 after buying an additional 2,862 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Customers Bancorp by 5.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,164 shares of the bank’s stock worth $728,000 after purchasing an additional 834 shares in the last quarter. Mackenzie Financial Corp raised its stake in shares of Customers Bancorp by 10.4% in the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after purchasing an additional 549 shares in the last quarter. Sanctuary Advisors LLC bought a new position in Customers Bancorp in the second quarter worth $391,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Customers Bancorp during the 3rd quarter valued at about $244,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

CUBI has been the topic of several research analyst reports. Maxim Group lifted their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. Keefe, Bruyette & Woods lifted their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday. Raymond James reduced their price objective 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. DA Davidson lifted their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Monday. Finally, Piper Sandler decreased their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Six 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $64.00.

Customers Bancorp Company Profile

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.