Customers Bancorp (NYSE:CUBI) Rating Lowered to Neutral at Wedbush

Customers Bancorp (NYSE:CUBI) was downgraded by investment analysts at Wedbush from an “outperform” rating to a “neutral” rating in a report issued on Tuesday, MarketBeat reports. They currently have a $53.00 price target on the bank’s stock, down from their prior price target of $79.00. Wedbush’s price objective would indicate a potential upside of 12.69% from the company’s previous close.

CUBI has been the subject of a number of other research reports. B. Riley boosted their price target on Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 29th. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Friday, August 9th. Keefe, Bruyette & Woods cut their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. DA Davidson upped their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Jefferies Financial Group dropped their target price on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. Four investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.25.

Customers Bancorp Stock Performance

CUBI stock opened at $47.03 on Tuesday. Customers Bancorp has a twelve month low of $31.16 and a twelve month high of $68.49. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 6.57 and a beta of 1.62. The business’s fifty day simple moving average is $52.83 and its two-hundred day simple moving average is $50.02. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The firm’s revenue was up 3.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.65 EPS. Analysts predict that Customers Bancorp will post 6.34 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Samvir S. Sidhu acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, with a total value of $113,825.00. Following the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

A number of institutional investors have recently made changes to their positions in the business. Trexquant Investment LP acquired a new stake in Customers Bancorp in the fourth quarter worth about $1,651,000. Aigen Investment Management LP acquired a new stake in Customers Bancorp in the 4th quarter worth approximately $209,000. US Bancorp DE boosted its stake in Customers Bancorp by 1,063.7% in the 4th quarter. US Bancorp DE now owns 11,230 shares of the bank’s stock worth $647,000 after purchasing an additional 10,265 shares in the last quarter. TFO Wealth Partners LLC grew its position in Customers Bancorp by 41,335.7% during the 4th quarter. TFO Wealth Partners LLC now owns 5,801 shares of the bank’s stock worth $334,000 after purchasing an additional 5,787 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in Customers Bancorp during the 4th quarter valued at approximately $3,680,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.