Customers Bancorp (NYSE:CUBI) Stock Rating Upgraded by StockNews.com

Customers Bancorp (NYSE:CUBI) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Other equities analysts have also recently issued research reports about the stock. DA Davidson lifted 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. Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $57.00 to $52.00 in a research report on Monday, November 4th. Raymond James cut 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 decreased their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, Stephens boosted their target price on Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Monday. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Customers Bancorp presently has an average rating of “Moderate Buy” and a consensus target price of $61.11.

Customers Bancorp Price Performance

CUBI traded down $0.23 during trading on Friday, reaching $54.85. The stock had a trading volume of 243,718 shares, compared to its average volume of 372,680. Customers Bancorp has a 1-year low of $42.31 and a 1-year high of $68.49. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of 8.90 and a beta of 1.61. The stock has a 50 day moving average of $47.84 and a two-hundred day moving average of $49.26. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm had revenue of $167.10 million during 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 company’s quarterly revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the company earned $2.59 EPS. As a group, equities analysts anticipate that Customers Bancorp will post 5.63 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the sale, the insider now owns 66,256 shares of the company’s stock, valued at $3,556,622.08. The trade was a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the sale, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at $61,662,410.92. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,440 shares of company stock valued at $5,210,695. Company insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

A number of hedge funds have recently bought and sold shares of CUBI. Barclays PLC grew its position in Customers Bancorp by 46.9% during the third quarter. Barclays PLC now owns 89,879 shares of the bank’s stock worth $4,175,000 after buying an additional 28,683 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new stake in Customers Bancorp during the 3rd quarter worth approximately $736,000. State Street Corp raised its holdings in shares of Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after buying an additional 169,982 shares during the last quarter. Systematic Financial Management LP acquired a new stake in shares of Customers Bancorp in the third quarter valued at approximately $574,000. Finally, Point72 DIFC Ltd acquired a new stake in Customers Bancorp in the third quarter worth about $84,000. 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.