Samvir Sidhu Buys 1,000 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) CEO Samvir Sidhu purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the acquisition, the chief executive officer owned 521,714 shares of the company’s stock, valued at approximately $37,866,002.12. This represents a 0.19% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Customers Bancorp Stock Down 0.3%

Shares of CUBI stock traded down $0.23 during trading hours on Tuesday, reaching $73.90. The company had a trading volume of 235,298 shares, compared to its average volume of 388,214. Customers Bancorp, Inc has a 12 month low of $49.54 and a 12 month high of $82.56. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day simple moving average of $71.73 and a 200-day simple moving average of $72.24. The company has a market cap of $2.49 billion, a price-to-earnings ratio of 9.38 and a beta of 1.52.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The company had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. During the same quarter last year, the company earned $1.54 earnings per share. The company’s revenue for the quarter was up 57.9% on a year-over-year basis. On average, research analysts expect that Customers Bancorp, Inc will post 8.52 earnings per share for the current fiscal year.

Customers Bancorp declared that its board has authorized a share buyback plan on Wednesday, February 11th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the bank to reacquire up to 4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CUBI shares. Stephens upgraded Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 target price on the stock in a report on Monday, March 16th. Weiss Ratings upgraded Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. dropped their target price on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating on the stock in a report on Wednesday, April 1st. Piper Sandler restated an “overweight” rating and issued a $86.00 target price (up from $82.00) on shares of Customers Bancorp in a report on Monday, April 27th. Finally, Zacks Research lowered Customers Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.50.

Institutional Trading of Customers Bancorp

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Customers Bancorp by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock worth $162,424,000 after acquiring an additional 66,031 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Customers Bancorp by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock worth $134,859,000 after acquiring an additional 65,954 shares during the period. State Street Corp lifted its holdings in Customers Bancorp by 1.8% during the fourth quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock worth $133,998,000 after acquiring an additional 32,449 shares during the period. American Century Companies Inc. lifted its holdings in Customers Bancorp by 7.9% during the third quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after acquiring an additional 69,200 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Customers Bancorp by 3,074.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after acquiring an additional 844,141 shares during the period. 89.29% of the stock is currently owned by institutional investors.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid?market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset?based lending and treasury management services.