Customers Bancorp (NYSE:CUBI) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Customers Bancorp, Inc. (NYSE:CUBI) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $50.87 and traded as low as $46.56. Customers Bancorp shares last traded at $47.03, with a volume of 316,309 shares trading hands.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Raymond James decreased their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Stephens raised their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Piper Sandler cut their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Finally, B. Riley raised their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.22.

Customers Bancorp Price Performance

The stock has a fifty day simple moving average of $52.07 and a 200-day simple moving average of $50.87. The company has a market capitalization of $1.47 billion, a PE ratio of 7.63 and a beta of 1.68. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78.

Customers Bancorp (NYSE:CUBI) last posted its earnings results 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 business had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. Customers Bancorp’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.59 EPS. Equities analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Insider Activity

In other Customers Bancorp news, CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the transaction, the chief executive officer now 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 approximately $3,556,622.08. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,440 shares of company stock worth $5,425,815. Corporate insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Customers Bancorp by 1.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after purchasing an additional 21,302 shares during the period. State Street Corp grew its holdings in shares of Customers Bancorp by 10.5% during the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after buying an additional 169,982 shares during the last quarter. Geode Capital Management LLC increased its position in Customers Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after acquiring an additional 17,941 shares during the period. American Century Companies Inc. raised its stake in Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock valued at $32,954,000 after acquiring an additional 87,557 shares during the last quarter. Finally, Hood River Capital Management LLC raised its stake in Customers Bancorp by 94.3% during the 2nd 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. 89.29% of the stock is currently owned by hedge funds and other 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.