Philip Watkins Sells 3,000 Shares of Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp, Inc (NYSE:CUBI) EVP Philip Watkins sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $75.67, for a total value of $227,010.00. Following the completion of the sale, the executive vice president owned 43,993 shares in the company, valued at $3,328,950.31. The trade was a 6.38% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Customers Bancorp Trading Down 1.7%

Customers Bancorp stock opened at $72.69 on Thursday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01. Customers Bancorp, Inc has a one year low of $49.54 and a one year high of $82.56. The stock has a market capitalization of $2.46 billion, a PE ratio of 9.22 and a beta of 1.52. The business’s fifty day moving average is $71.93 and its 200 day moving average is $72.36.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating the consensus estimate of $1.88 by $0.09. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The company had revenue of $225.40 million for the quarter, compared to analysts’ expectations of $223.51 million. During the same period last year, the firm posted $1.54 earnings per share. Customers Bancorp’s revenue was up 57.9% compared to the same quarter last year. On average, sell-side analysts predict that Customers Bancorp, Inc will post 8.52 EPS for the current year.

Customers Bancorp declared that its board has initiated a share buyback program on Wednesday, February 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the bank to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CUBI shares. Morgan Stanley dropped their price target on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 31st. Stephens raised Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 target price on the stock in a report on Monday, March 16th. Weiss Ratings raised Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. TD Cowen reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Finally, Zacks Research cut Customers Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.50.

Institutional Investors Weigh In On Customers Bancorp

Several large investors have recently added to or reduced their stakes in CUBI. Sei Investments Co. boosted its position in shares of Customers Bancorp by 41.2% during the first quarter. Sei Investments Co. now owns 254,971 shares of the bank’s stock valued at $17,698,000 after buying an additional 74,413 shares during the period. Lido Advisors LLC boosted its holdings in shares of Customers Bancorp by 15.2% in the first quarter. Lido Advisors LLC now owns 7,069 shares of the bank’s stock valued at $491,000 after purchasing an additional 934 shares during the period. Walleye Capital LLC purchased a new stake in shares of Customers Bancorp in the first quarter valued at approximately $1,979,000. Cetera Investment Advisers boosted its holdings in shares of Customers Bancorp by 32.6% in the first quarter. Cetera Investment Advisers now owns 4,071 shares of the bank’s stock valued at $283,000 after purchasing an additional 1,001 shares during the period. Finally, Militia Capital Management LLC purchased a new stake in shares of Customers Bancorp in the first quarter valued at approximately $865,000. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Company Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.