Jay Sidhu Sells 835 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) Chairman Jay Sidhu sold 835 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was sold at an average price of $79.00, for a total value of $65,965.00. Following the completion of the sale, the chairman directly owned 736,578 shares of the company’s stock, valued at $58,189,662. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $78.61 on Friday. The company has a market capitalization of $2.66 billion, a PE ratio of 9.59 and a beta of 1.48. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s 50-day moving average is $76.83 and its two-hundred day moving average is $74.55. Customers Bancorp, Inc has a 12 month low of $59.34 and a 12 month high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The firm had revenue of $227.28 million for the quarter, compared to analysts’ expectations of $229.24 million. During the same period in the prior year, the firm posted $1.80 earnings per share. The firm’s quarterly revenue was up 10.2% on a year-over-year basis. Analysts predict that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Arax Advisory Partners raised its stake in shares of Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after buying an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Customers Bancorp during the third quarter valued at approximately $29,000. Bessemer Group Inc. boosted its holdings in shares of Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after purchasing an additional 232 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in Customers Bancorp in the 1st quarter worth about $37,000. Finally, Transamerica Financial Advisors LLC boosted its position in shares of Customers Bancorp by 216.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after acquiring an additional 404 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. DA Davidson raised their price objective on shares of Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Hovde Group boosted their price target on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Finally, Morgan Stanley boosted their price objective on Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. One equities research 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 company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $90.15.

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.