Customers Bancorp (NYSE:CUBI) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Customers Bancorp, Inc. (NYSE:CUBI)’s stock price 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.

Wall Street Analyst Weigh In

A number of research firms have weighed in on CUBI. Wedbush downgraded 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 lowered their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens upped their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Six investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.22.

Customers Bancorp Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 7.63 and a beta of 1.68. The company has a 50 day moving average price of $52.07 and a 200 day moving average price of $50.87.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm 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 for the quarter was down 23.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.59 earnings per share. As a group, equities research analysts forecast that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Insider Activity at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the sale, the chief executive officer now directly owns 1,189,738 shares of the company’s stock, valued at $65,114,360.74. This represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the transaction, the director now directly owns 4,567 shares in the company, valued at $245,613.26. The trade was a 46.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock worth $5,425,815 over the last ninety days. Company insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Basswood Capital Management L.L.C. acquired a new stake in Customers Bancorp during the 3rd quarter worth $26,000. GAMMA Investing LLC increased its holdings in shares of Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares in the last quarter. Quest Partners LLC raised its position in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the period. Point72 DIFC Ltd bought a new position in shares of Customers Bancorp during the 3rd quarter valued at about $84,000. Finally, CWM LLC grew its position in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the period. 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.