Customers Bancorp (NYSE:CUBI) Stock Rating Lowered by Keefe, Bruyette & Woods

Customers Bancorp (NYSE:CUBI) was downgraded by research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a report issued on Monday, Briefing.com reports. They presently have a $52.00 price objective on the bank’s stock, down from their prior price objective of $57.00. Keefe, Bruyette & Woods’ price target indicates a potential upside of 13.84% from the company’s previous close.

Several other analysts also recently issued reports on CUBI. Hovde Group downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Friday, August 9th. B. Riley increased their target price on Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Raymond James reduced their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, DA Davidson raised their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.57.

Customers Bancorp Price Performance

NYSE:CUBI opened at $45.68 on Monday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.42 and a beta of 1.61. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The business has a 50 day simple moving average of $47.26 and a 200-day simple moving average of $48.92. Customers Bancorp has a 1 year low of $40.46 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.79% and a net margin of 15.22%. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same quarter in the prior year, the business earned $2.59 earnings per share. The firm’s quarterly revenue was down 23.2% compared to the same quarter last year. Equities analysts forecast that Customers Bancorp will post 6.11 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the acquisition, the chief executive officer now owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The trade was a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wedge Capital Management L L P NC purchased a new stake in shares of Customers Bancorp during the second quarter worth about $2,508,000. Hillsdale Investment Management Inc. purchased a new position in shares of Customers Bancorp in the first quarter worth $4,266,000. Intech Investment Management LLC purchased a new stake in shares of Customers Bancorp during the second quarter valued at $698,000. SG Americas Securities LLC increased its position in shares of Customers Bancorp by 208.5% in the 1st quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock valued at $1,148,000 after acquiring an additional 14,621 shares during the period. Finally, Thrivent Financial for Lutherans raised its stake in Customers Bancorp by 26.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank’s stock worth $3,429,000 after acquiring an additional 15,011 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

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. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.