Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) Director T. Way sold 723 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $85.16, for a total transaction of $61,570.68. Following the sale, the director directly owned 77,890 shares of the company's stock, valued at $6,633,112.40. This trade represents a 0.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
T Lawrence Way also recently made the following trade(s):
- On Friday, October 30th, T. Way sold 48,796 shares of Customers Bancorp stock. The stock was sold at an average price of $83.88, for a total transaction of $4,093,008.48.
Customers Bancorp Stock Performance
CUBI stock opened at $87.22 on Thursday. The stock's 50 day simple moving average is $78.42 and its 200 day simple moving average is $76.03. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.05. Customers Bancorp, Inc has a 12-month low of $63.44 and a 12-month high of $89.60. The stock has a market capitalization of $2.95 billion, a PE ratio of 10.57 and a beta of 1.43.
Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its earnings results on Thursday, October 22nd. The bank reported $2.27 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.13. The business had revenue of $240.24 million during the quarter, compared to analyst estimates of $237.18 million. Customers Bancorp had a return on equity of 13.73% and a net margin of 19.11%. During the same quarter last year, the company earned $2.20 EPS. As a group, research analysts forecast that Customers Bancorp, Inc will post 8.55 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on CUBI shares. Keefe, Bruyette & Woods increased their price objective on Customers Bancorp from $88.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Piper Sandler reissued an "overweight" rating and issued a $102.00 target price (up from $92.00) on shares of Customers Bancorp in a research report on Monday, October 26th. TD Cowen upped their target price on shares of Customers Bancorp from $91.00 to $97.00 and gave the company a "buy" rating in a research note on Monday, October 26th. JPMorgan Chase & Co. upped their target price on shares of Customers Bancorp from $92.00 to $100.00 and gave the company an "overweight" rating in a research note on Monday, October 26th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Customers Bancorp in a report on Friday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $94.36.
Check Out Our Latest Research Report on CUBI
Hedge Funds Weigh In On Customers Bancorp
Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in shares of Customers Bancorp in the second quarter worth $40,000. Bessemer Group Inc. increased its position in Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank's stock valued at $37,000 after acquiring an additional 232 shares during the last quarter. Versant Capital Management Inc lifted its holdings in Customers Bancorp by 41.0% in the second quarter. Versant Capital Management Inc now owns 561 shares of the bank's stock valued at $44,000 after acquiring an additional 163 shares during the period. Integrated Wealth Concepts LLC bought a new position in Customers Bancorp in the second quarter valued at about $71,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Customers Bancorp by 528.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,445 shares of the bank's stock valued at $106,000 after acquiring an additional 1,215 shares during the period. 89.29% of the stock is owned by institutional investors.
Customers Bancorp Company Profile
(
Get Free Report)
Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking and financial services to businesses, entrepreneurs, professionals and consumers in the United States.
Customers Bank offers commercial and industrial lending, commercial real estate financing, small business lending, mortgage warehouse financing, venture banking and other specialized credit products. Its services also include business and consumer deposit accounts, cash management, treasury services, online banking and payment solutions.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
