Customers Bancorp (NYSE:CUBI) Hits New 1-Year Low - Here's Why

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) reached a new 52-week low during trading on Friday . The stock traded as low as $42.23 and last traded at $42.86, with a volume of 18396 shares traded. The stock had previously closed at $45.59.

Analysts Set New Price Targets

CUBI has been the subject of several analyst reports. DA Davidson raised their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the stock a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a "market perform" rating in a research note on Monday, January 27th. Maxim Group boosted their price objective on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Stephens reaffirmed an "equal weight" rating and set a $58.00 price target on shares of Customers Bancorp in a research note on Friday, January 24th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.00.

Customers Bancorp Price Performance

The stock has a 50-day moving average price of $52.37 and a two-hundred day moving average price of $50.83. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 9.23 and a beta of 1.47. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, equities research analysts forecast that Customers Bancorp, Inc. will post 6.45 EPS for the current year.

Insider Activity

In related news, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now owns 55,211 shares of the company's stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay S. Sidhu sold 67,000 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now directly owns 965,723 shares of the company's stock, valued at $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 115,988 shares of company stock worth $6,627,318 over the last three months. 6.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of CUBI. Picton Mahoney Asset Management grew its stake in shares of Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after buying an additional 189 shares during the period. R Squared Ltd acquired a new position in Customers Bancorp in the fourth quarter valued at about $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Customers Bancorp during the 4th quarter worth approximately $46,000. KBC Group NV raised its position in Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after purchasing an additional 677 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in shares of Customers Bancorp by 323.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock worth $80,000 after buying an additional 1,255 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.