Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Customers Bancorp Inc shares valued at $268,498 were purchased by Glenn Hedde on Nov 06 ’24. At $53.68 per share, Glenn Hedde acquired 5,002 shares.
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Also, Sidhu Samvir S. purchased 2,500 shares, netting a total of over 113,833 in proceeds. Following the buying of shares at $45.53 each, the insider now holds 144,504 shares.
Before that, Leibold Carla A had sold 35,832 shares from its account. In a trade valued at $1,904,464, the Chief Financial Officer traded Customers Bancorp Inc shares for $53.15 each. Upon closing the transaction, the insider’s holdings decreased to 35,832 shares, worth approximately $2.29 million.
As published in a research note from Keefe Bruyette on November 04, 2024, Customers Bancorp Inc [CUBI] has been rated down from an Outperform to a Mkt perform and the price target has been revised to $52 from $57. Analysts at Wedbush downgraded the stock from ‘”an Outperform”‘ to ‘”a Neutral”‘ outlook in a report released in late September. As of August 09, 2024, Hovde Group has decreased its “an Outperform” rating to a “Market perform” for CUBI. Earlier on May 02, 2024, Hovde Group resumed its rating. Their recommendation was “an Outperform” for CUBI stock.
Analyzing CUBI Stock Performance
During the last five days, there has been a surge of approximately 21.68%. Over the course of the year, Customers Bancorp Inc shares have dropped approximately -3.58%. Shares of the company reached a 52-week high of $68.49 on 07/26/24 and a 52-week low of $42.31 on 06/11/24. A 50-day SMA is recorded $47.16, while a 200-day SMA reached $49.90. Nevertheless, trading volume fell to 1.01 million shares from 0.3 million shares the previous day.
Support And Resistance Levels for Customers Bancorp Inc (CUBI)
According to the 24-hour chart, there is a support level at 52.21, which, if violated, would cause prices to drop to 48.87. In the upper region, resistance lies at 57.34. The next price resistance is at 59.13. RSI (Relative Strength Index) is 74.40 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.73, which suggests the price will increase in the coming days. Percent R is at 1.85%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
