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

Customers Bancorp, Inc. (NYSE:CUBI) Director Robert Neil Mackay sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Customers Bancorp Stock Up 0.3 %

Customers Bancorp stock traded up $0.14 during midday trading on Friday, reaching $55.42. The company’s stock had a trading volume of 3,031 shares, compared to its average volume of 369,379. Customers Bancorp, Inc. has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.74 billion, a P/E ratio of 9.02 and a beta of 1.61. The business has a 50-day simple moving average of $48.16 and a 200-day simple moving average of $49.42.

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

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in shares of Customers Bancorp by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after purchasing an additional 21,302 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Customers Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after purchasing an additional 111,654 shares during the last quarter. State Street Corp grew its holdings in shares of Customers Bancorp by 10.5% during the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after purchasing an additional 169,982 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Customers Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock worth $31,924,000 after buying an additional 17,941 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after buying an additional 87,557 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on CUBI shares. Piper Sandler dropped their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Friday, August 9th. B. Riley increased their price objective on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Stephens upped their price target on Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.