Customers Bancorp (NYSE:CUBI) Upgraded at StockNews.com

StockNews.com upgraded shares of Customers Bancorp (NYSE:CUBI) from a sell rating to a hold rating in a report published on Friday.

Several other research analysts also recently commented on CUBI. Raymond James dropped their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. DA Davidson increased their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. B. Riley increased their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th. Finally, Hovde Group downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

Customers Bancorp Trading Down 1.0 %

Shares of CUBI stock opened at $54.32 on Friday. Customers Bancorp has a 52-week low of $42.31 and a 52-week high of $68.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $1.70 billion, a PE ratio of 8.82 and a beta of 1.61. The stock has a fifty day simple moving average of $47.95 and a two-hundred day simple moving average of $49.35.

Customers Bancorp (NYSE:CUBI) last issued its quarterly 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 business had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter in the previous year, the company posted $2.59 EPS. The company’s quarterly revenue was down 23.2% on a year-over-year basis. On average, analysts predict that Customers Bancorp will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now owns 66,256 shares in the company, 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 link. Also, CEO Jay S. Sidhu sold 86,578 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $56.54, for a total value 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. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 92,440 shares of company stock worth $5,210,695. Corporate insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. CWM LLC boosted its position in shares of Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after buying an additional 274 shares during the period. GAMMA Investing LLC raised its stake in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Customers Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock valued at $686,000 after acquiring an additional 300 shares in the last quarter. SummerHaven Investment Management LLC raised its stake in shares of Customers Bancorp by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after acquiring an additional 341 shares in the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in shares of Customers Bancorp by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after acquiring an additional 353 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

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.