Customers Bancorp Inc (NYSE:CUBI) insider Glenn Hedde sold 498 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $30.37, for a total value of $15,124.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Glenn Hedde also recently made the following trade(s):
- On Monday, February 5th, Glenn Hedde sold 506 shares of Customers Bancorp stock. The stock was sold at an average price of $30.16, for a total value of $15,260.96.
Customers Bancorp Inc (CUBI) traded down $0.22 during mid-day trading on Thursday, hitting $30.28. The stock had a trading volume of 83,790 shares, compared to its average volume of 242,424. Customers Bancorp Inc has a 52 week low of $24.75 and a 52 week high of $35.60. The company has a market cap of $942.42, a price-to-earnings ratio of 15.60, a P/E/G ratio of 1.11 and a beta of 0.75. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.96 and a current ratio of 1.23.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, January 24th. The bank reported $0.55 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.07). Customers Bancorp had a net margin of 18.64% and a return on equity of 14.11%. The company had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.02 million. During the same quarter in the prior year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. research analysts expect that Customers Bancorp Inc will post 2.7 earnings per share for the current fiscal year.
A number of equities analysts have recently commented on CUBI shares. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. B. Riley restated a “buy” rating and set a $41.00 price target on shares of Customers Bancorp in a research note on Thursday, January 25th. DA Davidson assumed coverage on Customers Bancorp in a research note on Wednesday, February 14th. They set a “neutral” rating and a $33.00 price target on the stock. ValuEngine upgraded Customers Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Finally, Maxim Group restated a “buy” rating and set a $50.00 price target on shares of Customers Bancorp in a research note on Friday, January 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $37.67.
Hedge funds have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC bought a new stake in shares of Customers Bancorp in the 3rd quarter valued at approximately $205,000. Jefferies Group LLC acquired a new position in shares of Customers Bancorp in the 4th quarter worth approximately $238,000. SG Americas Securities LLC boosted its holdings in shares of Customers Bancorp by 69.7% in the 3rd quarter. SG Americas Securities LLC now owns 7,400 shares of the bank’s stock worth $241,000 after acquiring an additional 3,039 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of Customers Bancorp in the 3rd quarter worth approximately $241,000. Finally, Teacher Retirement System of Texas acquired a new position in shares of Customers Bancorp in the 4th quarter worth approximately $263,000. Institutional investors own 79.42% of the company’s stock.
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About Customers Bancorp
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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