Customers Bancorp (NYSE:CUBI) Shares Cross Below 200-Day Moving Average – Time to Sell?

Shares of Customers Bancorp, Inc. (NYSE:CUBI) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $50.87 and traded as low as $46.56. Customers Bancorp shares last traded at $47.03, with a volume of 316,309 shares traded.

Analysts Set New Price Targets

CUBI has been the topic of several research reports. Piper Sandler cut their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Raymond James decreased their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Finally, Stephens raised their price target 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. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.22.

Customers Bancorp Trading Down 1.2 %

The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The business has a 50 day moving average price of $52.07 and a 200-day moving average price of $50.87. The company has a market cap of $1.47 billion, a P/E ratio of 7.63 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results 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 net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the prior year, the business earned $2.59 EPS. The business’s revenue was down 23.2% compared to the same quarter last year. Analysts forecast that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Customers Bancorp news, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares of the company’s stock, valued at $245,613.26. This trade represents a 46.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp stock in a transaction on 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 transaction, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at approximately $61,662,410.92. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,440 shares of company stock worth $5,425,815. Company insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CUBI. Intech Investment Management LLC acquired a new position in shares of Customers Bancorp in the second quarter valued at approximately $698,000. Thrivent Financial for Lutherans boosted its stake in Customers Bancorp by 26.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank’s stock valued at $3,429,000 after purchasing an additional 15,011 shares during the period. Denali Advisors LLC boosted its stake in Customers Bancorp by 37.0% in the 2nd quarter. Denali Advisors LLC now owns 47,044 shares of the bank’s stock valued at $2,257,000 after purchasing an additional 12,700 shares during the period. American Century Companies Inc. grew its holdings in Customers Bancorp by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock valued at $32,954,000 after buying an additional 87,557 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in Customers Bancorp by 117.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock worth $1,878,000 after buying an additional 21,871 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.