Key Points
- CEO Jay Sidhu sold 128,185 shares on Dec. 3 at an average of $69.43 for about $8.90M, reducing his position by ~13.96% to 790,031 shares valued near $54.85M.
- Analyst sentiment is broadly positive — MarketBeat shows a "Moderate Buy" consensus with a mean target price of $82.88 and multiple firms raising or reaffirming buy/hold ratings.
- Institutional ownership is high at 89.29%, with major increases from Wellington Management (up 34.3% to 3.53M shares) and Vanguard (up 3.9% to 2.16M shares), indicating strong institutional interest.
Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) CEO Jay Sidhu sold 128,185 shares of the business's stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the completion of the transaction, the chief executive officer directly owned 790,031 shares of the company's stock, valued at $54,851,852.33. The trade was a 13.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Customers Bancorp Price Performance
Customers Bancorp stock opened at $70.91 on Thursday. The stock has a market capitalization of $2.42 billion, a P/E ratio of 14.38 and a beta of 1.61. Customers Bancorp, Inc has a 12-month low of $40.75 and a 12-month high of $72.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. The firm's 50-day moving average is $66.42 and its two-hundred day moving average is $63.20.
Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The business had revenue of $206.82 million during the quarter. Equities analysts predict 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 modified their holdings of the company. Wellington Management Group LLP increased its position in Customers Bancorp by 34.3% during the 1st 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. Vanguard Group Inc. grew its stake in Customers Bancorp by 3.9% during the third quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank's stock worth $140,892,000 after buying an additional 81,200 shares during the period. Hood River Capital Management LLC increased its position in shares of Customers Bancorp by 1.6% in the second quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank's stock worth $89,462,000 after acquiring an additional 23,416 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Customers Bancorp by 7.9% in the 3rd quarter. American Century Companies Inc. now owns 945,825 shares of the bank's stock valued at $61,829,000 after acquiring an additional 69,200 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Customers Bancorp by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 695,204 shares of the bank's stock valued at $40,841,000 after acquiring an additional 2,494 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
CUBI has been the topic of several analyst reports. Cowen restated a "buy" rating on shares of Customers Bancorp in a report on Monday, October 27th. Stephens raised their price target on Customers Bancorp from $62.00 to $68.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 28th. Wall Street Zen upgraded Customers Bancorp from a "hold" rating to a "buy" rating in a report on Saturday, November 15th. Hovde Group increased their price objective on shares of Customers Bancorp from $70.00 to $75.00 and gave the stock a "market perform" rating in a report on Thursday, October 30th. Finally, B. Riley reissued a "buy" rating on shares of Customers Bancorp in a research report on Monday, October 27th. One equities research 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 stock. According to MarketBeat.com, Customers Bancorp has an average rating of "Moderate Buy" and a consensus target price of $82.88.
Check Out Our Latest Analysis 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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