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

StockNews.com cut shares of Customers Bancorp (NYSE:CUBI) from a hold rating to a sell rating in a research note published on Saturday morning.

Several other equities research analysts also recently commented on the company. Stephens boosted their price objective on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $57.00 to $52.00 in a research note on Monday, November 4th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a research note on Friday, August 9th. Raymond James decreased their target price 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, B. Riley upped their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $61.11.

Customers Bancorp Stock Down 1.9 %

Shares of NYSE CUBI opened at $56.58 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.77 billion, a PE ratio of 9.24 and a beta of 1.61. The company’s fifty day simple moving average is $48.65 and its 200 day simple moving average is $49.61. Customers Bancorp has a 12-month low of $42.31 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI) last released 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 return on equity of 13.55% and a net margin of 15.22%. 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 company earned $2.59 EPS. Customers Bancorp’s revenue for the quarter was down 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the transaction, the chief executive officer now owns 1,189,738 shares in the company, valued at $65,114,360.74. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the sale, the director now owns 4,567 shares in the company, valued at $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 96,440 shares of company stock worth $5,425,815. 6.92% of the stock is owned by insiders.

Institutional Trading of Customers Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Basswood Capital Management L.L.C. purchased a new stake in Customers Bancorp in the third quarter worth $26,000. Ridgewood Investments LLC purchased a new stake in Customers Bancorp in the 2nd quarter worth about $48,000. Innealta Capital LLC bought a new stake in Customers Bancorp in the 2nd quarter valued at about $74,000. GAMMA Investing LLC lifted its holdings in Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after purchasing an additional 282 shares during the last quarter. Finally, Quest Partners LLC boosted its position in Customers Bancorp by 143.4% during 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. Hedge funds and other 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.