Customers Bancorp (NYSE:CUBI) Downgraded to “Sell” Rating by StockNews.com

StockNews.com lowered shares of Customers Bancorp (NYSE:CUBI) from a hold rating to a sell rating in a research report sent to investors on Monday.

A number of other equities analysts have also commented on the stock. B. Riley raised their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. DA Davidson raised their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Hovde Group downgraded 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. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Finally, Raymond James reduced their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $61.88.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $51.76 on Monday. The company has a market capitalization of $1.64 billion, a PE ratio of 8.40 and a beta of 1.61. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a fifty day moving average of $47.19 and a 200-day moving average of $48.99. Customers Bancorp has a one year low of $40.61 and a one year high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). The company had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.59 EPS. As a group, equities analysts anticipate that Customers Bancorp will post 5.98 EPS for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the transaction, the insider now owns 66,256 shares in the company, valued at $3,556,622.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the sale, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Samvir S. Sidhu acquired 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the purchase, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CUBI. Quest Partners LLC increased its stake in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the period. Empowered Funds LLC boosted its position in shares of Customers Bancorp by 5.2% in the third quarter. Empowered Funds LLC now owns 21,640 shares of the bank’s stock valued at $1,005,000 after acquiring an additional 1,072 shares during the period. GSA Capital Partners LLP grew its stake in shares of Customers Bancorp by 10.5% in the third quarter. GSA Capital Partners LLP now owns 30,001 shares of the bank’s stock worth $1,394,000 after acquiring an additional 2,857 shares during the last quarter. Wolverine Asset Management LLC bought a new position in Customers Bancorp during the third quarter worth $3,470,000. Finally, Los Angeles Capital Management LLC bought a new position in Customers Bancorp during the third quarter worth $294,000. Institutional investors and hedge funds own 89.29% 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. 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.