Customers Bancorp (NYSE:CUBI) Share Price Crosses Below Two Hundred Day Moving Average - Time to Sell?

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CUBI. Stephens upped their price target on Customers Bancorp from $53.00 to $55.00 and gave the company an "equal weight" rating in a research note on Monday, November 11th. Wedbush cut shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and decreased their price objective for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. 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 report on Monday, November 4th. Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $52.00 to $62.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Finally, Raymond James reduced their target price 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. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Customers Bancorp has an average rating of "Moderate Buy" and an average price target of $62.22.

Customers Bancorp Trading Down 3.4 %

The business has a 50-day simple moving average of $52.07 and a two-hundred day simple moving average of $50.87. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 7.39 and a beta of 1.68. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

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

Insider Buying and Selling at Customers Bancorp

In other news, 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 completion of the sale, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 completion of the transaction, the chief executive officer now directly owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. This represents a 7.35 % 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 over the last quarter. 6.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors have recently modified their holdings of the business. Hood River Capital Management LLC increased its stake in Customers Bancorp by 94.3% in the second 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. Assenagon Asset Management S.A. raised its holdings in shares of Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank's stock worth $22,284,000 after buying an additional 225,785 shares in the last quarter. State Street Corp lifted its position in shares of Customers Bancorp by 10.5% during the 3rd 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. American Century Companies Inc. boosted its stake in Customers Bancorp by 14.6% in the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank's stock valued at $32,954,000 after buying an additional 87,557 shares in the last quarter. Finally, Wolverine Asset Management LLC bought a new position in Customers Bancorp in the third quarter valued at about $3,470,000. Institutional investors own 89.29% of the company's stock.

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.