Customers Bancorp, Inc. (NYSE:CUBI) CEO Buys $113,825.00 in Stock

Customers Bancorp, Inc. (NYSE:CUBI) CEO Samvir S. Sidhu bought 2,500 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, August 13th. The shares were bought at an average cost of $45.53 per share, with a total value of $113,825.00. Following the acquisition, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

Customers Bancorp Trading Up 2.2 %

Shares of Customers Bancorp stock opened at $47.86 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75. Customers Bancorp, Inc. has a 12-month low of $31.16 and a 12-month high of $68.49. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 6.71 and a beta of 1.65. The firm’s 50-day moving average price is $52.04 and its two-hundred day moving average price is $50.78.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The firm had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. During the same quarter last year, the business posted $1.65 EPS. The company’s revenue was up 3.9% compared to the same quarter last year. On average, analysts forecast that Customers Bancorp, Inc. will post 6.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CUBI has been the subject of several research reports. Keefe, Bruyette & Woods cut their price objective on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research note on Friday, August 9th. DA Davidson increased their price objective on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wedbush upped their price target on shares of Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, B. Riley raised their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $65.50.

Hedge Funds Weigh In On Customers Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Access Investment Management LLC acquired a new position in shares of Customers Bancorp during the fourth quarter worth $16,194,000. Hood River Capital Management LLC grew its position in shares of Customers Bancorp by 94.3% in the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after buying an additional 266,462 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Customers Bancorp by 252.1% in the second quarter. Assenagon Asset Management S.A. now owns 253,954 shares of the bank’s stock valued at $12,185,000 after buying an additional 181,819 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Customers Bancorp in the second quarter valued at about $7,690,000. Finally, Federated Hermes Inc. raised its position in shares of Customers Bancorp by 3,784.1% during the fourth quarter. Federated Hermes Inc. now owns 138,196 shares of the bank’s stock worth $7,963,000 after acquiring an additional 134,638 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.