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

StockNews.com lowered shares of Customers Bancorp (NYSE:CUBI - Free Report) from a hold rating to a sell rating in a research report report published on Saturday.

Several other research firms also recently issued reports on CUBI. Wedbush downgraded shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and dropped their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $57.00 to $52.00 in a research report on Monday, November 4th. Stephens raised their price objective on Customers Bancorp from $53.00 to $55.00 and gave the company an "equal weight" rating in a research report on Monday, November 11th. Raymond James decreased their price objective on Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating on the stock in a report on Wednesday, October 2nd. Finally, B. Riley lifted their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $61.11.

Customers Bancorp Trading Up 1.5 %

NYSE CUBI traded up $0.83 during trading hours on Friday, reaching $56.11. The company's stock had a trading volume of 358,119 shares, compared to its average volume of 495,100. The stock has a market cap of $1.76 billion, a P/E ratio of 9.11 and a beta of 1.61. 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 current ratio of 0.93 and a quick ratio of 0.92. The firm has a fifty day simple moving average of $48.47 and a 200-day simple moving average of $49.52.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts' consensus estimates of $1.43 by ($0.09). The firm had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company's revenue for the quarter was down 23.2% on a year-over-year basis. During the same period last year, the firm earned $2.59 earnings per share. Equities analysts forecast that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 860 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the sale, the chief executive officer now directly owns 1,189,738 shares in the company, valued at $65,114,360.74. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert Neil Mackay sold 4,000 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the transaction, the director now directly owns 4,567 shares of the company's stock, valued at approximately $245,613.26. This represents a 46.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,440 shares of company stock worth $5,425,815. Insiders own 6.92% of the company's stock.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CUBI. Basswood Capital Management L.L.C. bought a new position in Customers Bancorp during the 3rd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new position in shares of Customers Bancorp in the second quarter valued at approximately $48,000. Innealta Capital LLC acquired a new stake in shares of Customers Bancorp in the second quarter valued at $74,000. GAMMA Investing LLC raised its stake in Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock valued at $73,000 after acquiring an additional 282 shares during the last quarter. Finally, Quest Partners LLC grew its holdings in Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock valued at $76,000 after buying an additional 962 shares during the last quarter. 89.29% of the stock is owned by 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.