Customers Bancorp (NYSE:CUBI) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Customers Bancorp (NYSE:CUBI) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

A number of other analysts have also recently commented on the company. Piper Sandler lowered their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. B. Riley increased their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Keefe, Bruyette & Woods cut Customers Bancorp from an “outperform” rating to a “market perform” rating and cut their target price for the company from $57.00 to $52.00 in a research note on Monday, November 4th. Stephens increased their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, DA Davidson boosted their price target on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

Customers Bancorp Trading Down 0.4 %

CUBI stock traded down $0.21 during trading on Friday, hitting $54.87. The company had a trading volume of 243,723 shares, compared to its average volume of 372,680. The firm has a 50-day moving average price of $47.84 and a 200-day moving average price of $49.26. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 8.90 and a beta of 1.61. Customers Bancorp has a 12 month low of $42.31 and a 12 month high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm 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 was down 23.2% compared to the same quarter last year. During the same period last year, the company earned $2.59 EPS. As a group, analysts predict that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the sale, the chief executive officer now owns 1,189,738 shares in the company, valued at $65,114,360.74. The trade was 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, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the sale, the insider now directly owns 66,256 shares of the company’s stock, valued at $3,556,622.08. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,440 shares of company stock worth $5,210,695 over the last quarter. Company insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Basswood Capital Management L.L.C. bought a new position in shares of Customers Bancorp during the third quarter valued at about $26,000. Ridgewood Investments LLC purchased a new stake in shares of Customers Bancorp during the second quarter valued at approximately $48,000. Innealta Capital LLC bought a new stake in Customers Bancorp during the second quarter worth $74,000. GAMMA Investing LLC boosted its position in 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 purchasing an additional 282 shares during the last quarter. Finally, Quest Partners LLC grew its stake in Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares during the period. 89.29% of the stock is owned by institutional investors.

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.