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

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report)'s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-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.

Analysts Set New Price Targets

A number of analysts have weighed in on CUBI shares. Stephens increased their target price on shares of 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 shares of Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, October 2nd. Wedbush lowered shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and dropped their target price for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. B. Riley increased their price target on Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $52.00 to $62.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. Six 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $62.22.

Customers Bancorp Trading Down 3.4 %

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 business has a 50 day moving average of $52.07 and a two-hundred day moving average of $50.87. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 7.39 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly 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). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same period in the previous year, the business posted $2.59 EPS. The business's revenue for the quarter was down 23.2% compared to the same quarter last year. Equities analysts predict that Customers Bancorp, Inc. will post 5.63 EPS for the current year.

Insider Activity at Customers Bancorp

In related 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 transaction, the insider now directly owns 66,256 shares of the company's stock, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp stock in a transaction on Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the sale, the chief executive officer now owns 1,090,598 shares in the company, valued at $61,662,410.92. This trade represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 96,440 shares of company stock valued at $5,425,815. 6.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. purchased a new position in Customers Bancorp during the 3rd quarter valued at about $26,000. GAMMA Investing LLC increased its holdings in Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock worth $73,000 after acquiring an additional 282 shares during the period. Quest Partners LLC lifted its stake in Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock worth $76,000 after purchasing an additional 962 shares in the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Customers Bancorp in the third quarter worth $84,000. Finally, CWM LLC boosted its position in shares of Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank's stock valued at $102,000 after acquiring an additional 274 shares during 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.