Glenn Hedde Sells 15,815 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) insider Glenn Hedde sold 15,815 shares of the company's stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the transaction, the insider now owns 55,211 shares in the company, valued at $3,216,040.75. The trade was a 22.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Glenn Hedde also recently made the following trade(s):

• On Wednesday, November 6th, Glenn Hedde sold 5,002 shares of Customers Bancorp stock. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36.

Customers Bancorp Price Performance

NYSE CUBI traded down $0.61 during mid-day trading on Monday, hitting $56.37. The stock had a trading volume of 220,623 shares, compared to its average volume of 366,839. The firm's 50 day moving average is $51.65 and its 200 day moving average is $50.91. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 11.10 and a beta of 1.68. Customers Bancorp, Inc. has a twelve month low of $42.31 and a twelve month high of $68.49.

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

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp increased its stake in Customers Bancorp by 10.5% in the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank's stock valued at $82,773,000 after buying an additional 169,982 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Customers Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank's stock valued at $31,924,000 after buying an additional 17,941 shares during the period. Charles Schwab Investment Management Inc. boosted its stake 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 buying an additional 12,000 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank's stock worth $22,284,000 after acquiring an additional 225,785 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in Customers Bancorp by 46.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank's stock worth $13,621,000 after acquiring an additional 90,451 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Maxim Group increased their price target on Customers Bancorp from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, January 27th. B. Riley boosted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, November 4th. StockNews.com upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. Piper Sandler decreased their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating for the company in a research report on Monday, November 4th. Finally, DA Davidson raised their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.