Customers Bancorp (NYSE:CUBI) Cut to Sell at StockNews.com

StockNews.com lowered shares of Customers Bancorp (NYSE:CUBI) from a hold rating to a sell rating in a report released on Monday morning.

CUBI has been the topic of several other reports. Piper Sandler dropped their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday. Hovde Group cut 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. B. Riley raised their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, Raymond James cut their price target 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $61.88.

Customers Bancorp Trading Up 19.5 %

Shares of CUBI stock opened at $55.50 on Monday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The firm has a market cap of $1.76 billion, a P/E ratio of 9.01 and a beta of 1.61. The company has a 50 day moving average of $47.19 and a 200-day moving average of $48.97. Customers Bancorp has a 12-month low of $40.61 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI) last released its earnings results 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). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. During the same period in the prior year, the business earned $2.59 earnings per share. The business’s quarterly revenue was down 23.2% compared to the same quarter last year. Sell-side analysts anticipate that Customers Bancorp will post 6.11 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Samvir S. Sidhu purchased 2,500 shares of the firm’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 completion of the acquisition, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP lifted its position in Customers Bancorp by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock valued at $107,575,000 after purchasing an additional 21,302 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after acquiring an additional 111,654 shares during the last quarter. American Century Companies Inc. grew its position in Customers Bancorp by 14.6% in the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after acquiring an additional 87,557 shares in the last quarter. Hood River Capital Management LLC increased its stake in Customers Bancorp by 94.3% in the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after acquiring an additional 266,462 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after purchasing an additional 225,785 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.