Customers Bancorp (NYSE:CUBI) Stock Rating Upgraded by StockNews.com

Customers Bancorp (NYSE:CUBI) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report released on Friday.

Several other research firms have also recently weighed in on CUBI. Stephens upped their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a report on Monday. DA Davidson increased their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price target for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. B. Riley upped their price objective on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Finally, Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Friday, August 9th. Six equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of “Moderate Buy” and a consensus price target of $61.11.

Customers Bancorp Trading Down 0.4 %

Customers Bancorp stock traded down $0.23 during mid-day trading on Friday, hitting $54.85. 243,718 shares of the company’s stock were exchanged, compared to its average volume of 372,680. Customers Bancorp has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $1.72 billion, a P/E ratio of 8.90 and a beta of 1.61. The company’s 50 day simple moving average is $47.84 and its 200-day simple moving average is $49.26.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same period in the prior year, the business earned $2.59 EPS. The company’s revenue for the quarter was down 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the transaction, the insider now owns 66,256 shares in the company, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 86,578 shares of the business’s 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 sale, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at approximately $61,662,410.92. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 92,440 shares of company stock valued at $5,210,695. 6.92% of the stock is owned by corporate insiders.

Institutional Trading of Customers Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of CUBI. Basswood Capital Management L.L.C. bought a new position in shares of Customers Bancorp during the third quarter worth approximately $26,000. Ridgewood Investments LLC acquired a new position in Customers Bancorp in the 2nd quarter valued at $48,000. GAMMA Investing LLC raised its holdings in Customers Bancorp by 21.7% in 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 in the last quarter. Innealta Capital LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter worth $74,000. Finally, Quest Partners LLC grew its holdings in shares of Customers Bancorp by 143.4% during 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. Institutional investors and hedge funds 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.