Customers Bancorp (NYSE:CUBI) Downgraded to Sell Rating by StockNews.com

Customers Bancorp (NYSE:CUBI) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

CUBI has been the subject of several other research reports. 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 note on Wednesday, October 2nd. Piper Sandler decreased their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday. Keefe, Bruyette & Woods cut Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $57.00 to $52.00 in a research note on Monday. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. Finally, B. Riley boosted their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $61.88.

Customers Bancorp Trading Down 0.0 %

Shares of NYSE:CUBI traded down $0.02 during midday trading on Monday, reaching $45.66. 404,272 shares of the company’s stock were exchanged, compared to its average volume of 364,462. The firm’s 50 day simple moving average is $47.26 and its two-hundred day simple moving average is $48.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 7.41 and a beta of 1.61. Customers Bancorp has a fifty-two week low of $40.61 and a fifty-two week high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its 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 13.79%. The firm had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter last year, the business earned $2.59 earnings per share. The business’s revenue was down 23.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Customers Bancorp will post 6.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Samvir S. Sidhu purchased 2,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of CUBI. Wedge Capital Management L L P NC purchased a new stake in shares of Customers Bancorp in the second quarter valued at approximately $2,508,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Customers Bancorp in the first quarter valued at $4,266,000. Intech Investment Management LLC purchased a new stake in shares of Customers Bancorp in the second quarter valued at $698,000. SG Americas Securities LLC lifted its position in shares of Customers Bancorp by 208.5% in the first quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock valued at $1,148,000 after acquiring an additional 14,621 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in Customers Bancorp by 26.6% in the second 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 last quarter. 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.