Key Points
- CEO Jay Sidhu sold 22,172 shares on Nov. 5 at an average price of $67.76 for a total of $1,502,374.72, reducing his stake by 2.24% to 967,859 shares per an SEC filing.
- Analysts have grown more positive recently — several upgrades and target increases (TD Cowen to $95, DA Davidson to $88, Zacks to "strong-buy") leave an average price target of $82.88 and a consensus rating of "Moderate Buy."
- Customers Bancorp trades near $67.56 with a market cap of $2.14B, a P/E of 13.7, and a 52-week range of $40.75–$72.51, while institutional investors hold about 89.3% of the stock.
Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) CEO Jay Sidhu sold 1,263 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $67.75, for a total value of $85,568.25. Following the sale, the chief executive officer directly owned 966,596 shares in the company, valued at $65,486,879. This trade represents a 0.13% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Customers Bancorp Stock Up 1.3%
CUBI stock opened at $67.56 on Friday. The stock has a 50-day simple moving average of $66.71 and a two-hundred day simple moving average of $61.10. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $72.51. The firm has a market capitalization of $2.14 billion, a PE ratio of 13.70 and a beta of 1.64. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.
Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The firm had revenue of $206.82 million for the quarter. On average, equities analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.
Hedge Funds Weigh In On Customers Bancorp
A number of large investors have recently modified their holdings of CUBI. Wellington Management Group LLP lifted its position in Customers Bancorp by 34.3% in the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock worth $177,349,000 after buying an additional 902,406 shares during the last quarter. Nuveen LLC purchased a new position in shares of Customers Bancorp during the first quarter worth approximately $26,652,000. Anatole Investment Management Ltd bought a new stake in shares of Customers Bancorp in the 2nd quarter worth approximately $17,593,000. Emerald Advisers LLC purchased a new stake in shares of Customers Bancorp in the 3rd quarter valued at $15,150,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Customers Bancorp during the 3rd quarter valued at $9,481,000. 89.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on the stock. Cowen reissued a "buy" rating on shares of Customers Bancorp in a report on Monday, October 27th. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Zacks Research upgraded Customers Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 28th. National Bankshares set a $89.00 target price on Customers Bancorp in a research note on Wednesday, September 24th. Finally, Hovde Group lifted their price target on Customers Bancorp from $70.00 to $75.00 and gave the company a "market perform" rating in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $82.88.
Check Out Our Latest Stock Report on CUBI
About Customers Bancorp
(
Get Free Report)
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.
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