Customers Bancorp (NYSE:CUBI) Shares Cross Below 200 Day Moving Average – Here’s Why

Customers Bancorp, Inc. (NYSE:CUBI) crossed 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 trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on CUBI shares. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. B. Riley lifted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Raymond James cut their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Finally, StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus 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 company has a market capitalization of $1.43 billion, a PE ratio of 7.39 and a beta of 1.68. The stock has a fifty day moving average of $52.07 and a 200 day moving average of $50.87.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results 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). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same quarter in the prior year, the firm posted $2.59 earnings per share. The business’s revenue was down 23.2% on a year-over-year basis. As a group, sell-side analysts predict that Customers Bancorp, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares in the company, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 66,256 shares in the company, valued at $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,440 shares of company stock worth $5,425,815. Corporate insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after acquiring an additional 274 shares during the period. GAMMA Investing LLC lifted its position in shares of Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares during the period. Mackenzie Financial Corp boosted its stake in shares of Customers Bancorp by 10.4% during the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after purchasing an additional 549 shares in the last quarter. Inspire Investing LLC increased its holdings in Customers Bancorp by 8.3% during the second quarter. Inspire Investing LLC now owns 7,303 shares of the bank’s stock valued at $350,000 after buying an additional 557 shares during the period. Finally, Basswood Capital Management L.L.C. bought a new position in Customers Bancorp in the third quarter worth approximately $26,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.