Customers Bancorp, Inc. (NYSE:CUBI) Receives Average Recommendation of "Moderate Buy" from Brokerages

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $62.22.

CUBI has been the topic of a number of research analyst reports. B. Riley boosted their price target on Customers Bancorp from $78.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 4th. Wedbush cut Customers Bancorp from an "outperform" rating to a "neutral" rating and reduced their target price for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Raymond James decreased their target price 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. Stephens lifted their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an "equal weight" rating in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Sunday, December 1st.

Customers Bancorp Trading Down 3.5 %

NYSE CUBI traded down $1.86 during trading on Tuesday, hitting $51.49. 325,841 shares of the company's stock traded hands, compared to its average volume of 363,865. The firm has a market cap of $1.61 billion, a P/E ratio of 8.36 and a beta of 1.65. The stock has a fifty day moving average of $51.30 and a two-hundred day moving average of $50.45. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. Customers Bancorp has a 12-month low of $42.31 and a 12-month high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) 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). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same quarter in the previous year, the firm posted $2.59 EPS. The business's revenue for the quarter was down 23.2% compared to the same quarter last year. As a group, sell-side analysts expect that Customers Bancorp will post 5.63 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 86,578 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $56.54, for a total transaction 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 approximately $61,662,410.92. This represents a 7.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,440 shares of company stock worth $5,425,815 in the last three months. 6.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

Several institutional investors have recently modified their holdings of the business. CWM LLC boosted its holdings in Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank's stock worth $102,000 after purchasing an additional 274 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock worth $73,000 after buying an additional 282 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Customers Bancorp by 2.1% in the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank's stock worth $686,000 after acquiring an additional 300 shares during the period. SummerHaven Investment Management LLC increased its position in 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 during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in Customers Bancorp by 10.4% in the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank's stock valued at $281,000 after acquiring an additional 549 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.