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

Customers Bancorp (NYSE:CUBI - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Monday.

A number of other equities research analysts have also issued reports on the stock. Hovde Group lowered shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and set a $49.00 price objective for the company. in a report on Friday, August 9th. DA Davidson raised their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a "buy" rating in a report on Monday, July 29th. Raymond James cut their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating for the company in a report on Wednesday, October 2nd. B. Riley raised their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a "buy" rating in a report on Monday. Finally, Piper Sandler cut their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Customers Bancorp presently has a consensus rating of "Hold" and an average target price of $61.88.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI traded down $0.02 during mid-day trading on Monday, reaching $45.66. 404,272 shares of the company traded hands, compared to its average volume of 364,462. The company's 50 day moving average price is $47.26 and its 200-day moving average price is $48.94. The firm has a market cap of $1.45 billion, a PE ratio of 7.41 and a beta of 1.61. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. Customers Bancorp has a 52 week low of $40.61 and a 52 week 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 (EPS) for the quarter, missing analysts' consensus estimates 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 net margin of 15.22% and a return on equity of 13.79%. The company's revenue was down 23.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.59 earnings per share. On average, equities analysts expect that Customers Bancorp will post 6.11 EPS for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of the firm's stock in a transaction on Tuesday, August 13th. The stock was bought at an average cost of $45.53 per share, with a total value of $113,825.00. Following the completion of the acquisition, the chief executive officer now owns 144,504 shares of the company's stock, valued at $6,579,267.12. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP raised its stake in Customers Bancorp by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank's stock valued at $107,575,000 after purchasing an additional 21,302 shares during the last quarter. Vanguard Group Inc. raised its stake in Customers Bancorp by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank's stock valued at $116,038,000 after purchasing an additional 111,654 shares during the last quarter. American Century Companies Inc. raised its stake in Customers Bancorp by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank's stock valued at $32,954,000 after purchasing an additional 87,557 shares during the last quarter. Hood River Capital Management LLC raised its stake in Customers Bancorp by 94.3% in the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank's stock valued at $26,344,000 after purchasing an additional 266,462 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank's stock valued at $22,284,000 after purchasing an additional 225,785 shares during the last quarter. Hedge funds and other 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.

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