Glenn Hedde Sells 5,002 Shares of Customers Bancorp, Inc. (NYSE:CUBI) Stock

Customers Bancorp, Inc. (NYSE:CUBI) insider Glenn Hedde sold 5,002 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now directly owns 66,256 shares in the company, valued at $3,556,622.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Customers Bancorp Trading Down 4.2 %

Shares of NYSE:CUBI traded down $2.33 during midday trading on Thursday, reaching $53.23. The company had a trading volume of 205,315 shares, compared to its average volume of 366,812. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. Customers Bancorp, Inc. has a 1-year low of $40.61 and a 1-year high of $68.49. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 8.82 and a beta of 1.61. The company has a fifty day simple moving average of $47.19 and a two-hundred day simple moving average of $48.97.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the previous year, the business posted $2.59 earnings per share. The company’s revenue was down 23.2% compared to the same quarter last year. Research analysts predict that Customers Bancorp, Inc. will post 5.98 earnings per share for the current year.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors have recently bought and sold shares of CUBI. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $48,000. GAMMA Investing LLC lifted its holdings in shares of Customers Bancorp by 21.7% during the 3rd 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 last quarter. Innealta Capital LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $74,000. CWM LLC raised its stake in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after acquiring an additional 274 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Customers Bancorp in the 2nd quarter valued at approximately $151,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CUBI has been the topic of a number of research analyst reports. DA Davidson raised their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Piper Sandler lowered their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday. StockNews.com lowered Customers Bancorp from a “hold” rating to a “sell” rating in a report on Monday. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a report on Friday, August 9th. Finally, Raymond James lowered their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Customers Bancorp presently has a consensus rating of “Hold” and a consensus price target of $61.88.

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.