Key Points
- CEO Jay Sidhu sold 7,479 shares on November 25 at an average price of $70.06 for proceeds of about $523,979, leaving him with 918,216 shares (a 0.81% decline in his ownership); the sale was disclosed in an SEC filing.
- Customers Bancorp recently reported quarterly results with $1.80 EPS and $206.82 million in revenue, and analysts project about 6.45 EPS for the year with solid profitability metrics (ROE 13.24%, net margin 12.43%).
- The stock trades around $68.90 with a market cap of ~$2.35 billion and a P/E of ~13.98; analysts have a consensus rating of "Moderate Buy" and a consensus price target of $82.88.
Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) CEO Jay Sidhu sold 7,479 shares of the company'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 sale, the chief executive officer directly owned 918,216 shares of the company's stock, valued at approximately $64,330,212.96. This represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Customers Bancorp Stock Down 0.1%
Customers Bancorp stock opened at $68.90 on Friday. The stock has a 50 day moving average of $66.24 and a two-hundred day moving average of $62.83. Customers Bancorp, Inc has a twelve month low of $40.75 and a twelve month high of $72.51. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 13.98 and a beta of 1.64. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67.
Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings results on Monday, September 8th. The bank reported $1.80 EPS 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 during the quarter. As a group, research analysts expect that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.
Hedge Funds Weigh In On Customers Bancorp
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in Customers Bancorp during the third quarter worth $29,000. Farther Finance Advisors LLC raised its stake in shares of Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank's stock worth $44,000 after buying an additional 260 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Customers Bancorp in the 1st quarter worth about $37,000. Aster Capital Management DIFC Ltd boosted its position in shares of Customers Bancorp by 451.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank's stock worth $61,000 after buying an additional 767 shares in the last quarter. Finally, CX Institutional acquired a new stake in Customers Bancorp in the 3rd quarter valued at about $67,000. 89.29% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts have recently commented on the stock. Stephens lifted their target price on shares of Customers Bancorp from $62.00 to $68.00 and gave the company an "equal weight" rating in a report on Tuesday, October 28th. Keefe, Bruyette & Woods lifted their price objective on Customers Bancorp from $76.00 to $82.00 and gave the company a "market perform" rating in a report on Monday, October 27th. National Bankshares set a $89.00 target price on Customers Bancorp in a research report on Wednesday, September 24th. Weiss Ratings reissued a "hold (c+)" rating on shares of Customers Bancorp in a research note on Monday. Finally, Wall Street Zen upgraded Customers Bancorp from a "hold" rating to a "buy" rating in a research note on Saturday, November 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.88.
Check Out Our Latest Stock Analysis on Customers Bancorp
Customers Bancorp Company Profile
(
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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