Saturday, June 25, 2022

The Attractiveness of Investing In Customers Bancorp Inc. (CUBI) is Growing

Customers Bancorp Inc.’s recent filing unveils that its Director Banks Bernard Bennett acquired Company’s shares for reported $19986.0 on May 11. In the deal valued at $39.97 per share,500 shares were bought. As a result of this transaction, Banks Bernard Bennett now holds 2,156 shares worth roughly $ 75093.48.


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Then, Sidhu Samvir S. bought 2,965 shares, generating $124,826 in total proceeds. Upon buying the shares at $42.10, the President, CEO now owns 80,637 shares.

Before that, Leibold Carla A bought 1,000 shares. Customers Bancorp Inc. shares valued at $42,100 were divested by the Chief Financial Officer at a price of $42.10 per share. As a result of the transaction, Leibold Carla A now holds 68,348 shares, worth roughly $2.38 million.

Following these proceedings, Keefe Bruyette upgraded its Customers Bancorp Inc. [CUBI] rating to an Outperform from a a Mkt perform in a research note published on Tuesday, March 29, 2022; the price target was increased to $80 from $72. PT values the company’s stock at a premium of 56.46 to its Tuesday closing price. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in late March with a ‘”an Equal-weight”‘ rating. Wedbush began covering CUBI with a “an Outperform” recommendation on January 15, 2021. Jefferies started covering the stock on December 04, 2020. It rated CUBI as “a Buy”.

Price Performance Review of CUBI

On Tuesday, Customers Bancorp Inc. [NYSE:CUBI] saw its stock jump 1.37% to $34.83. On the same session, the stock had its day’s lowest price of $34.34, but rose to a high of $35.6398. Over the last five days, the stock has gained 6.61%. Customers Bancorp Inc. shares have fallen nearly -46.72% since the year began. Nevertheless, the stocks have fallen -12.31% over the past one year. While a 52-week high of $76.13 was reached on 01/07/22, a 52-week low of $32.19 was recorded on 06/14/22. SMA at 50 days reached $40.69, while 200 days put it at $51.59. A total of 0.57 million shares were traded, compared to the trading of 0.83 million shares in the previous session.

Levels Of Support And Resistance For CUBI Stock

The 24-hour chart illustrates a support level at 34.23, which if violated will result in even more drops to 33.64. On the upside, there is a resistance level at 35.53. A further resistance level may holdings at 36.24. The Relative Strength Index (RSI) on the 14-day chart is 38.40, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.67%. Stochastics %K at 24.09% indicates the stock is a holding.

Customers Bancorp Inc. [CUBI] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 4,463,819 shares, or roughly 13.53% of the outstanding CUBI shares. In other words, the investor’s shares have risen by 192,940 from its previous 13-F filing of 4270879.0. Additionally, SSgA Funds Management, Inc. increased 56.27% of its stake after which the total value it holdings stand at $94,286,744, while Dimensional Fund Advisors LP reduced -2.37% of its stake to hold $93.68 million in the firm. Over the last quarter, The Vanguard Group, Inc. purchased 36,465 shares of Customers Bancorp Inc., while Lord, Abbett & Co. LLC bought -303,645 shares. At present, Victory Capital Management, Inc. is holding 998,379 shares valued at $41.23 million. Basswood Capital Management LLC owned 843,391 shares of the company at the time of its most recent 13F filing, worth $34.83 million.

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