Customers Bancorp (NYSE:CUBI) Downgraded by BidaskClub

BidaskClub cut shares of Customers Bancorp (NYSE:CUBI) from a sell rating to a strong sell rating in a research report report published on Friday, November 10th.

CUBI has been the topic of a number of other research reports. Zacks Investment Research upgraded shares of Customers Bancorp from a hold rating to a strong-buy rating and set a $36.00 target price on the stock in a research note on Tuesday, October 24th. Boenning Scattergood restated a hold rating on shares of Customers Bancorp in a research note on Friday, October 27th. Finally, Maxim Group restated a buy rating and issued a $50.00 target price on shares of Customers Bancorp in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $40.50.

Customers Bancorp (NYSE:CUBI) traded up $1.65 during trading hours on Friday, hitting $28.40. 679,700 shares of the company traded hands, compared to its average volume of 212,651. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.17 and a quick ratio of 0.91. The firm has a market cap of $817.59, a price-to-earnings ratio of 9.31 and a beta of 0.65. Customers Bancorp has a 1-year low of $24.75 and a 1-year high of $36.93.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09). Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. The firm had revenue of $86.05 million during the quarter, compared to analyst estimates of $80.32 million. During the same quarter in the prior year, the firm earned $0.64 EPS. equities research analysts forecast that Customers Bancorp will post 2.47 EPS for the current year.

In other Customers Bancorp news, CFO Robert E. Wahlman sold 50,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total value of $1,333,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Richard A. Ehst sold 9,000 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $26.70, for a total transaction of $240,300.00. The disclosure for this sale can be found here. 8.67% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Alps Advisors Inc. grew its position in Customers Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 14,590 shares of the bank’s stock worth $413,000 after purchasing an additional 38 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Customers Bancorp by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the bank’s stock valued at $331,000 after acquiring an additional 100 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of Customers Bancorp by 1.4% in the second quarter. Arizona State Retirement System now owns 15,000 shares of the bank’s stock valued at $424,000 after acquiring an additional 200 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Customers Bancorp by 2.4% in the first quarter. Wellington Management Group LLP now owns 10,887 shares of the bank’s stock valued at $343,000 after acquiring an additional 258 shares in the last quarter. Finally, Texas Permanent School Fund boosted its holdings in shares of Customers Bancorp by 2.0% in the second quarter. Texas Permanent School Fund now owns 21,025 shares of the bank’s stock valued at $595,000 after acquiring an additional 410 shares in the last quarter. Hedge funds and other institutional investors own 87.98% of the company’s stock.

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Customers Bancorp Company Profile

Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

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