Customers Bancorp (NYSE:CUBI) Cut to “Sell” at StockNews.com

Customers Bancorp (NYSE:CUBI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Saturday.

CUBI has been the subject of a number of other reports. Piper Sandler dropped their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Stephens upped their target price on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Raymond James decreased their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research note on Friday, August 9th. Finally, Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $57.00 to $52.00 in a research note on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $61.11.

Customers Bancorp Stock Up 1.5 %

CUBI stock opened at $56.11 on Friday. The business’s fifty day moving average price is $48.47 and its two-hundred day moving average price is $49.55. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.11 and a beta of 1.61. Customers Bancorp has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS 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 the consensus estimate of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. Customers Bancorp’s revenue was down 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.59 earnings per share. On average, equities analysts anticipate that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, Director Robert Neil Mackay sold 4,000 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the transaction, the director now owns 4,567 shares of the company’s stock, valued at $245,613.26. This represents a 46.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay S. Sidhu sold 86,578 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the transaction, the chief executive officer now owns 1,090,598 shares of the company’s stock, valued at $61,662,410.92. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,440 shares of company stock worth $5,425,815 over the last 90 days. Insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CUBI. ProShare Advisors LLC increased its stake in shares of Customers Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after buying an additional 398 shares during the period. Vanguard Group Inc. raised its holdings in Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after purchasing an additional 111,654 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in shares of Customers Bancorp by 5.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 22,404 shares of the bank’s stock worth $1,189,000 after purchasing an additional 1,226 shares during the period. Quadrature Capital Ltd boosted its stake in shares of Customers Bancorp by 15.1% in the 1st quarter. Quadrature Capital Ltd now owns 12,090 shares of the bank’s stock valued at $642,000 after purchasing an additional 1,582 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Customers Bancorp by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,576 shares of the bank’s stock worth $721,000 after buying an additional 1,030 shares during the period. Institutional investors and hedge funds 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.