Customers Bancorp (NYSE:CUBI) Shares Gap Down – Time to Sell?

Customers Bancorp, Inc. (NYSE:CUBI) gapped down prior to trading on Thursday . The stock had previously closed at $48.62, but opened at $47.55. Customers Bancorp shares last traded at $48.20, with a volume of 12,489 shares trading hands.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CUBI. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Raymond James cut 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. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Stephens lifted their target price on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday, November 11th. Finally, Piper Sandler decreased 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 note on Monday, November 4th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.22.

Customers Bancorp Trading Up 0.0 %

The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market capitalization of $1.52 billion, a PE ratio of 7.89 and a beta of 1.65. The business’s 50-day moving average is $51.56 and its two-hundred day moving average is $50.64.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm’s revenue was down 23.2% on a year-over-year basis. During the same period in the previous year, the firm earned $2.59 EPS. As a group, equities research analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, 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 in the company, valued at $61,662,410.92. This trade represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the transaction, the insider now owns 66,256 shares in the company, valued at $3,556,622.08. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,440 shares of company stock worth $5,425,815. Company insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Basswood Capital Management L.L.C. acquired a new stake in Customers Bancorp in the third quarter valued at $26,000. Ridgewood Investments LLC acquired a new stake in Customers Bancorp in the 2nd quarter valued at about $48,000. GAMMA Investing LLC increased its holdings 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 in the last quarter. Innealta Capital LLC acquired a new position in Customers Bancorp during the second quarter worth about $74,000. Finally, Quest Partners LLC lifted its holdings in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.