Insider Selling: Customers Bancorp, Inc. (NYSE:CUBI) Insider Sells 953 Shares of Stock

Tuesday, April 6, 2021 | MarketBeat

Customers Bancorp, Inc. (NYSE:CUBI) insider James T. Collins sold 953 shares of the stock in a transaction on Monday, April 5th. The stock was sold at an average price of $31.83, for a total value of $30,333.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

James T. Collins also recently made the following trade(s):

  • On Tuesday, January 12th, James T. Collins sold 1,680 shares of Customers Bancorp stock. The stock was sold at an average price of $22.26, for a total value of $37,396.80.

CUBI stock traded down $0.17 during trading on Tuesday, hitting $31.81. The company had a trading volume of 1,321 shares, compared to its average volume of 220,613. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.24. The firm has a 50-day moving average price of $29.61 and a 200-day moving average price of $20.51. Customers Bancorp, Inc. has a 12 month low of $8.36 and a 12 month high of $33.01. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 10.45 and a beta of 1.55.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Tuesday, January 26th. The bank reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.06. The firm had revenue of $146.72 million during the quarter, compared to analysts' expectations of $147.69 million. Customers Bancorp had a net margin of 17.45% and a return on equity of 12.53%. Equities analysts expect that Customers Bancorp, Inc. will post 2.78 EPS for the current year.

Several brokerages recently issued reports on CUBI. Zacks Investment Research upgraded Customers Bancorp from a "hold" rating to a "strong-buy" rating and set a $31.00 price objective for the company in a report on Thursday, February 18th. TheStreet upgraded Customers Bancorp from a "c" rating to a "b-" rating in a report on Friday, March 12th. Wedbush initiated coverage on Customers Bancorp in a report on Friday, January 15th. They set an "outperform" rating and a $30.00 target price on the stock. Finally, B. Riley raised their target price on Customers Bancorp from $39.00 to $41.00 in a report on Wednesday, March 31st. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of "Buy" and an average target price of $28.33.

Several institutional investors have recently modified their holdings of CUBI. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Customers Bancorp in the 4th quarter valued at $30,000. Lazard Asset Management LLC acquired a new position in shares of Customers Bancorp in the 4th quarter valued at $30,000. GSA Capital Partners LLP acquired a new position in shares of Customers Bancorp in the 4th quarter valued at $202,000. Bailard Inc. acquired a new position in shares of Customers Bancorp in the 4th quarter valued at $204,000. Finally, Walleye Capital LLC acquired a new position in shares of Customers Bancorp in the 4th quarter valued at $212,000. Institutional investors own 75.40% of the company's stock.

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. It operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, non-interest-bearing demand accounts, individual retirement accounts, and other deposit accounts, as well as non-retail time deposits.

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