Jay S. Sidhu Sells 86,578 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) CEO Jay S. Sidhu sold 86,578 shares of the company's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the completion of the transaction, the chief executive officer now owns 1,090,598 shares of the company's stock, valued at approximately $61,662,410.92. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Customers Bancorp Price Performance

Customers Bancorp stock traded down $0.05 during mid-day trading on Tuesday, reaching $56.50. 443,827 shares of the company were exchanged, compared to its average volume of 371,774. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market cap of $1.79 billion, a PE ratio of 9.18 and a beta of 1.61. Customers Bancorp, Inc. has a 12 month low of $40.75 and a 12 month high of $68.49. The company has a fifty day simple moving average of $47.31 and a 200-day simple moving average of $49.05.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts' consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same period in the prior year, the firm earned $2.59 earnings per share. The business's revenue for the quarter was down 23.2% compared to the same quarter last year. As a group, equities research analysts expect that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Customers Bancorp by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank's stock valued at $107,575,000 after acquiring an additional 21,302 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Customers Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank's stock valued at $116,038,000 after acquiring an additional 111,654 shares during the period. American Century Companies Inc. boosted its position in Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank's stock worth $32,954,000 after buying an additional 87,557 shares during the period. Hood River Capital Management LLC boosted its stake in Customers Bancorp by 94.3% during the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank's stock valued at $26,344,000 after purchasing an additional 266,462 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Customers Bancorp by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank's stock valued at $23,665,000 after purchasing an additional 12,000 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on CUBI. Raymond James reduced their price objective on Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, October 2nd. Piper Sandler dropped their price objective on Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. StockNews.com downgraded shares of Customers Bancorp from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. Wedbush lowered Customers Bancorp from an "outperform" rating to a "neutral" rating and lowered their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $57.00 to $52.00 in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $61.11.

Customers Bancorp Company Profile

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.