Customers Bancorp, Inc. (NYSE:CUBI) Insider Glenn Hedde Sells 5,002 Shares

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the sale, the insider now owns 66,256 shares of the company's stock, valued at approximately $3,556,622.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Customers Bancorp Trading Down 6.8 %

NYSE:CUBI traded down $3.80 on Thursday, reaching $51.76. The company's stock had a trading volume of 610,270 shares, compared to its average volume of 368,704. Customers Bancorp, Inc. has a 1-year low of $40.61 and a 1-year high of $68.49. The business's 50-day moving average price is $47.19 and its two-hundred day moving average price is $48.99. The firm has a market cap of $1.64 billion, a PE ratio of 8.40 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company's revenue was down 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 earnings per share. Equities research analysts anticipate that Customers Bancorp, Inc. will post 5.98 earnings per share for the current fiscal year.

Institutional Trading of Customers Bancorp

Institutional investors have recently modified their holdings of the company. Capstone Investment Advisors LLC acquired a new stake in Customers Bancorp in the 1st quarter valued at approximately $220,000. Texas Permanent School Fund Corp lifted its position in shares of Customers Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank's stock worth $1,314,000 after purchasing an additional 353 shares in the last quarter. Quantbot Technologies LP lifted its position in shares of Customers Bancorp by 7.5% in the first quarter. Quantbot Technologies LP now owns 17,401 shares of the bank's stock worth $923,000 after purchasing an additional 1,217 shares in the last quarter. Empowered Funds LLC grew its position in Customers Bancorp by 7.9% in the first quarter. Empowered Funds LLC now owns 19,128 shares of the bank's stock valued at $1,015,000 after purchasing an additional 1,400 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Customers Bancorp by 208.5% in the 1st quarter. SG Americas Securities LLC now owns 21,632 shares of the bank's stock valued at $1,148,000 after buying an additional 14,621 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CUBI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods cut shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and reduced their price objective for the company from $57.00 to $52.00 in a research note on Monday. StockNews.com lowered Customers Bancorp from a "hold" rating to a "sell" rating in a research report on Monday. B. Riley lifted their price objective on Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday. Piper Sandler cut their target price on Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating on the stock in a research note on Monday. Finally, Wedbush lowered Customers Bancorp from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $61.88.

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.