Customers Bancorp (NYSE:CUBI) Lowered to Sell Rating by StockNews.com

StockNews.com downgraded shares of Customers Bancorp (NYSE:CUBI) from a hold rating to a sell rating in a report issued on Monday morning.

Several other analysts also recently weighed in on the company. Raymond James lowered their price objective on 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. DA Davidson upped their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $57.00 to $52.00 in a report on Monday. Piper Sandler lowered their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Customers Bancorp has a consensus rating of “Hold” and an average target price of $61.88.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $55.50 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. Customers Bancorp has a 52-week low of $40.61 and a 52-week high of $68.49. The company has a fifty day moving average of $47.19 and a 200-day moving average of $48.97. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 9.01 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data 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 net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same period last year, the business posted $2.59 earnings per share. The firm’s quarterly revenue was down 23.2% compared to the same quarter last year. Equities research analysts expect that Customers Bancorp will post 6.11 EPS for the current year.

Insider Activity

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was bought at an average cost of $45.53 per share, with a total value 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 approximately $6,579,267.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in shares of Customers Bancorp during the 2nd quarter valued at $48,000. GAMMA Investing LLC lifted its position in Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the period. Innealta Capital LLC bought a new stake in Customers Bancorp during the second quarter worth about $74,000. CWM LLC boosted its stake in Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in Customers Bancorp in the second quarter worth about $151,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.