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

Customers Bancorp (NYSE:CUBI) was downgraded by Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research note issued on Monday, Marketbeat reports. They presently have a $52.00 price objective on the bank’s stock, down from their previous price objective of $57.00. Keefe, Bruyette & Woods’ price target suggests a potential upside of 11.92% from the stock’s previous close.

Other research analysts also recently issued research reports about the stock. DA Davidson upped their price target 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. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. B. Riley raised their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 29th. Raymond James dropped their price objective 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. Finally, Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp currently has an average rating of “Hold” and a consensus price target of $61.88.

Customers Bancorp Stock Performance

NYSE CUBI opened at $46.46 on Monday. Customers Bancorp has a 1-year low of $40.61 and a 1-year high of $68.49. The company has a 50 day moving average of $47.09 and a 200-day moving average of $48.92. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 7.54 and a beta of 1.61.

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 business had revenue of $167.10 million for 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% on a year-over-year basis. During the same period in the prior year, the business earned $2.59 earnings per share. On average, equities analysts forecast that Customers Bancorp will post 6.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of Customers Bancorp 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 transaction, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently bought and sold shares of the company. Ridgewood Investments LLC acquired a new position in shares of Customers Bancorp in the 2nd quarter valued at $48,000. GAMMA Investing LLC increased its holdings in shares of Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of Customers Bancorp during the second quarter worth about $74,000. CWM LLC lifted its holdings in shares of Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Customers Bancorp in the 2nd quarter valued at approximately $151,000. 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.