Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Customers Bancorp Inc shares valued at $4,895,285 were sold by SIDHU JAY S on Nov 11 ’24. At $56.54 per share, SIDHU JAY S sold 86,578 shares. The insider’s holdings dropped to 1,090,598 shares worth approximately $61.52 million following the completion of this transaction.
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Also, SIDHU JAY S sold 12,562 shares, netting a total of over 665,907 in proceeds. Following the sale of shares at $53.01 each, the insider now holds 1,177,176 shares.
Before that, SIDHU JAY S had sold 860 shares from its account. In a trade valued at $47,069, the Chairman & CEO traded Customers Bancorp Inc shares for $54.73 each. Upon closing the transaction, the insider’s holdings decreased to 860 shares, worth approximately $67.11 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 1.53%. Over the course of the year, Customers Bancorp Inc shares have dropped approximately -2.10%. 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 $47.58, while a 200-day SMA reached $49.90. Nevertheless, trading volume fell to 0.51 million shares from 0.48 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 55.62, which, if violated, would cause prices to drop to 54.84. In the upper region, resistance lies at 57.77. The next price resistance is at 59.13. RSI (Relative Strength Index) is 68.62 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.76, which suggests the price will increase in the coming days. Percent R is at 13.36%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
