Customers Bancorp, Inc (NYSE:CUBI) Director Rick Burkey sold 1,129 shares of the business’s stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $26.74, for a total transaction of $30,189.46. Following the completion of the sale, the director now directly owns 40,919 shares in the company, valued at $1,094,174.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Customers Bancorp, Inc (NYSE:CUBI) traded up $0.18 on Friday, reaching $26.92. 150,909 shares of the company traded hands, compared to its average volume of 234,625. Customers Bancorp, Inc has a 1 year low of $24.75 and a 1 year high of $36.93. The stock has a market cap of $829.30, a P/E ratio of 9.41 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.09). Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. The business had revenue of $86.05 million for the quarter, compared to analysts’ expectations of $80.32 million. During the same period in the previous year, the company earned $0.64 earnings per share. research analysts predict that Customers Bancorp, Inc will post 2.47 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in CUBI. Flinton Capital Management LLC increased its stake in Customers Bancorp by 176.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock worth $114,000 after buying an additional 2,584 shares during the period. SG Americas Securities LLC acquired a new position in Customers Bancorp during the 2nd quarter worth approximately $123,000. Nisa Investment Advisors LLC grew its holdings in Customers Bancorp by 8.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock worth $158,000 after acquiring an additional 450 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Customers Bancorp during the 2nd quarter worth approximately $205,000. Finally, Piedmont Investment Advisors LLC acquired a new position in Customers Bancorp during the 3rd quarter worth approximately $205,000. 87.86% of the stock is currently owned by hedge funds and other institutional investors.
CUBI has been the topic of a number of research analyst reports. TheStreet downgraded shares of Customers Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th. Maxim Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Customers Bancorp in a research note on Wednesday, November 22nd. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a research note on Tuesday, October 24th. BidaskClub raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Saturday, September 23rd. Finally, Boenning Scattergood reaffirmed a “hold” rating on shares of Customers Bancorp in a research note on Friday, October 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $39.25.
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Customers Bancorp Company Profile
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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