Insider Selling: Customers Bancorp, Inc. (NYSE:CUBI) CEO Sells 67,000 Shares of Stock

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) CEO Jay S. Sidhu sold 67,000 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. The trade was a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Customers Bancorp Price Performance

Shares of CUBI traded down $0.93 during mid-day trading on Friday, reaching $57.24. 325,185 shares of the stock traded hands, compared to its average volume of 345,903. The firm has a fifty day moving average price of $51.73 and a 200 day moving average price of $50.86. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 11.27 and a beta of 1.68. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, equities research analysts predict that Customers Bancorp, Inc. will post 6.33 earnings per share for the current year.

Institutional Trading of Customers Bancorp

Several hedge funds have recently added to or reduced their stakes in CUBI. Bank of Montreal Can raised its stake in shares of Customers Bancorp by 47.4% during the second quarter. Bank of Montreal Can now owns 8,900 shares of the bank's stock valued at $429,000 after acquiring an additional 2,862 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Customers Bancorp by 5.8% during the second quarter. The Manufacturers Life Insurance Company now owns 15,164 shares of the bank's stock valued at $728,000 after acquiring an additional 834 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Customers Bancorp by 10.4% during the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank's stock valued at $281,000 after acquiring an additional 549 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Customers Bancorp during the second quarter valued at about $391,000. Finally, SG Americas Securities LLC purchased a new position in shares of Customers Bancorp during the third quarter valued at about $244,000. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Keefe, Bruyette & Woods boosted their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a "market perform" rating in a research note on Monday, January 27th. Piper Sandler cut their price target on Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating for the company in a research note on Monday, November 4th. Maxim Group upped their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. DA Davidson upped their target price on Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Finally, B. Riley upped their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of "Moderate Buy" and an average target price of $64.00.

About Customers Bancorp

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.