Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay Sells 4,000 Shares

Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay sold 4,000 shares of the business’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 in the company, valued at $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Customers Bancorp Trading Up 1.5 %

Shares of Customers Bancorp stock opened at $56.11 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. Customers Bancorp, Inc. has a 1 year low of $42.31 and a 1 year high of $68.49. The firm has a market cap of $1.76 billion, a PE ratio of 9.11 and a beta of 1.61. The company has a 50 day simple moving average of $48.47 and a two-hundred day simple moving average of $49.52.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Basswood Capital Management L.L.C. bought a new position in Customers Bancorp during the 3rd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new position in shares of Customers Bancorp in the second quarter worth $48,000. GAMMA Investing LLC raised its holdings in 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 purchased a new stake in Customers Bancorp during the 2nd quarter valued at $74,000. Finally, Quest Partners LLC grew its holdings in Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after acquiring an additional 962 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. StockNews.com downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday. Piper Sandler lowered their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. B. Riley increased their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stephens lifted their price target on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Finally, Raymond James dropped their price objective 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 analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of “Hold” and an average price target of $61.11.

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.