Customers Bancorp (NYSE:CUBI) Stock Price Passes Below 50-Day Moving Average of $52.83

Customers Bancorp, Inc. (NYSE:CUBI) shares crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $52.83 and traded as low as $49.49. Customers Bancorp shares last traded at $50.36, with a volume of 229,040 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CUBI shares. Keefe, Bruyette & Woods decreased their price objective on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. DA Davidson increased their price target on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. B. Riley lifted their price objective on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Wedbush increased their target price on shares of Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Jefferies Financial Group dropped their price target on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and an average price target of $65.50.

Customers Bancorp Price Performance

The stock’s 50 day simple moving average is $52.83 and its 200 day simple moving average is $50.57. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The firm has a market capitalization of $1.59 billion, a P/E ratio of 7.03 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The company had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. During the same period last year, the business posted $1.65 EPS. Customers Bancorp’s quarterly revenue was up 3.9% on a year-over-year basis. As a group, analysts expect that Customers Bancorp, Inc. will post 6.36 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 2,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were acquired at an average price of $45.53 per share, with a total value of $113,825.00. Following the transaction, the chief executive officer now owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.92% of the stock is owned by insiders.

Institutional Trading of Customers Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of CUBI. Dimensional Fund Advisors LP lifted its stake in shares of Customers Bancorp by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after purchasing an additional 21,302 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Customers Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock valued at $116,038,000 after buying an additional 111,654 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock valued at $32,954,000 after buying an additional 87,557 shares during the last quarter. Hood River Capital Management LLC boosted its holdings in shares of Customers Bancorp by 94.3% in the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after buying an additional 266,462 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Customers Bancorp by 9.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 407,920 shares of the bank’s stock worth $23,504,000 after buying an additional 35,230 shares during the last quarter. 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.