Customers Bancorp (NYSE:CUBI) Downgraded 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 research report report published on Saturday.

A number of other research firms have also recently commented on CUBI. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Friday, August 9th. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Raymond James reduced 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. DA Davidson boosted their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Keefe, Bruyette & Woods cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $57.00 to $52.00 in a research report on Monday, November 4th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Customers Bancorp currently has an average rating of “Hold” and an average price target of $61.11.

Customers Bancorp Trading Up 1.5 %

CUBI stock opened at $56.11 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The company has a fifty day moving average price of $48.47 and a two-hundred day moving average price of $49.52. Customers Bancorp has a one year low of $42.31 and a one year high of $68.49. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 9.11 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 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 firm earned $2.59 earnings per share. The company’s revenue for the quarter was down 23.2% compared to the same quarter last year. Equities analysts anticipate that Customers Bancorp will post 5.63 EPS for the current year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 86,578 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction 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 approximately $61,662,410.92. The trade was a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of the business’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 transaction, the director now directly owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. The trade was a 46.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,440 shares of company stock valued at $5,425,815 over the last quarter. 6.92% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. CWM LLC raised 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. GAMMA Investing LLC raised its stake in Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Customers Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock worth $686,000 after acquiring an additional 300 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in Customers Bancorp by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock worth $994,000 after acquiring an additional 341 shares in the last quarter. Finally, ProShare Advisors LLC grew its holdings in shares of Customers Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock worth $306,000 after purchasing an additional 398 shares during the last quarter. 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.