Customers Bancorp, Inc. (NYSE:CUBI) Director Sells $215,120.00 in Stock

Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares of the company’s stock, valued at $245,613.26. This represents a 46.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Customers Bancorp Stock Performance

Shares of NYSE CUBI opened at $56.09 on Friday. The stock has a 50 day moving average price of $48.31 and a 200 day moving average price of $49.47. Customers Bancorp, Inc. has a 52 week low of $42.31 and a 52 week high of $68.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $1.76 billion, a PE ratio of 9.11 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same period last year, the company posted $2.59 earnings per share. The business’s revenue for the quarter was down 23.2% on a year-over-year basis. Analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have issued reports on CUBI. Raymond James decreased their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 2nd. StockNews.com cut Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler reduced their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Friday, August 9th. Finally, Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price objective 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, five have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Customers Bancorp presently has an average rating of “Hold” and an average price target of $61.11.

Institutional Trading of Customers Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the business. Basswood Capital Management L.L.C. bought a new stake in Customers Bancorp in the third quarter valued at approximately $26,000. Ridgewood Investments LLC bought a new stake in Customers Bancorp in the second quarter valued at approximately $48,000. Innealta Capital LLC bought a new stake in Customers Bancorp in the second quarter valued at approximately $74,000. GAMMA Investing LLC raised its stake in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after buying an additional 282 shares during the period. Finally, Quest Partners LLC raised its stake in Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after buying an additional 962 shares during the period. Institutional investors own 89.29% of the company’s stock.

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.