Key Points
- Customers Bancorp Chairman Jay Sidhu sold 30,344 shares at an average price of $79.20, generating approximately $2.4 million. His remaining stake fell 3.95% to 737,413 shares.
- The bank reported quarterly EPS of $2.05, exceeding estimates of $2.00, while revenue rose 10.2% year over year to $227.28 million, slightly below expectations.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $90.15 versus the stock’s $78.61 opening price; institutional investors own 89.29% of outstanding shares.
Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) Chairman Jay Sidhu sold 835 shares of the firm's stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $79.00, for a total value of $65,965.00. Following the transaction, the chairman owned 736,578 shares of the company's stock, valued at $58,189,662. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Customers Bancorp Stock Performance
Shares of CUBI stock opened at $78.61 on Friday. The business's 50 day simple moving average is $76.83 and its 200 day simple moving average is $74.55. Customers Bancorp, Inc has a one year low of $59.34 and a one year high of $82.56. The stock has a market capitalization of $2.66 billion, a PE ratio of 9.59 and a beta of 1.48. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00.
Customers Bancorp (NYSE:CUBI - Get Free Report) last released its earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The business had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same quarter in the prior year, the firm posted $1.80 EPS. The company's revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, research analysts forecast that Customers Bancorp, Inc will post 8.38 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Hovde Group increased their price objective on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 28th. Fundamental Research set a $94.00 target price on shares of Customers Bancorp in a report on Wednesday, July 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Customers Bancorp in a research report on Monday, June 29th. Morgan Stanley increased their price target on Customers Bancorp from $83.00 to $88.00 and gave the stock an "equal weight" rating in a report on Monday, June 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Customers Bancorp from $86.00 to $94.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Customers Bancorp currently has an average rating of "Moderate Buy" and a consensus target price of $90.15.
Check Out Our Latest Report on CUBI
Institutional Trading of Customers Bancorp
Several large investors have recently modified their holdings of CUBI. Vanguard Group Inc. grew its position in shares of Customers Bancorp by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank's stock worth $162,424,000 after buying an additional 66,031 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Customers Bancorp by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank's stock valued at $134,859,000 after acquiring an additional 65,954 shares during the period. State Street Corp lifted its position in shares of Customers Bancorp by 1.8% during the 4th quarter. State Street Corp now owns 1,832,570 shares of the bank's stock valued at $133,998,000 after acquiring an additional 32,449 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Customers Bancorp by 3,074.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank's stock worth $63,732,000 after acquiring an additional 844,141 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Customers Bancorp by 213.0% during the first quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank's stock worth $54,056,000 after acquiring an additional 529,987 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.
About Customers Bancorp
(
Get Free Report)
Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.
Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.
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