Customers Bancorp (NYSE:CUBI) Cut to Market Perform at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods downgraded shares of Customers Bancorp (NYSE:CUBI) from an outperform rating to a market perform rating in a research note published on Monday, MarketBeat Ratings reports. The firm currently has $52.00 price objective on the bank’s stock, down from their previous price objective of $57.00.

Several other research firms have also weighed in on CUBI. B. Riley lifted their target price on Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, July 29th. 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 research report on Wednesday, October 2nd. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research note on Friday, August 9th. Finally, DA Davidson increased their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $61.88.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $55.50 on Monday. 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 firm has a market capitalization of $1.76 billion, a P/E ratio of 9.01 and a beta of 1.61. The business has a 50-day moving average of $47.19 and a 200-day moving average of $48.97. Customers Bancorp has a 1 year low of $40.61 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.59 EPS. On average, equities analysts anticipate that Customers Bancorp will post 6.11 EPS for the current year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average cost 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 of the company’s stock, valued at $6,579,267.12. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ridgewood Investments LLC bought a new stake in Customers Bancorp during the second quarter worth $48,000. GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 21.7% during the 3rd 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. Innealta Capital LLC bought a new stake in shares of Customers Bancorp in the 2nd quarter valued at about $74,000. CWM LLC lifted its stake in Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC bought a new position in Customers Bancorp during the second quarter worth about $151,000. Institutional investors 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.