Customers Bancorp (NYSE:CUBI) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Customers Bancorp (NYSE:CUBI) from a buy rating to a hold rating in a report released on Saturday morning.

CUBI has been the topic of a number of other research reports. Morgan Stanley started coverage on Customers Bancorp in a report on Monday, December 8th. They set an “equal weight” rating and a $90.00 target price on the stock. TD Cowen lifted their price target on Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a research report on Monday, October 27th. National Bankshares set a $89.00 price objective on Customers Bancorp in a report on Wednesday, September 24th. B. Riley reissued a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Monday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $73.55 on Friday. The firm has a market capitalization of $2.51 billion, a price-to-earnings ratio of 14.92 and a beta of 1.61. The stock has a fifty day moving average of $67.41 and a 200 day moving average of $64.40. Customers Bancorp has a 52 week low of $40.75 and a 52 week high of $74.57. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The business had revenue of $206.82 million for the quarter. As a group, research analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Insider Activity at Customers Bancorp

In related news, EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $65.04, for a total value of $188,616.00. Following the completion of the transaction, the executive vice president directly owned 50,849 shares in the company, valued at $3,307,218.96. The trade was a 5.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bernard Bennett Banks sold 9,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $66.93, for a total value of $602,370.00. Following the sale, the director owned 7,524 shares in the company, valued at approximately $503,581.32. This represents a 54.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 211,900 shares of company stock valued at $14,595,664 over the last 90 days. Corporate insiders own 8.69% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Several large investors have recently bought and sold shares of CUBI. Caitong International Asset Management Co. Ltd bought a new position in Customers Bancorp during the 3rd quarter valued at about $29,000. Jones Financial Companies Lllp purchased a new position in shares of Customers Bancorp during the first quarter valued at approximately $37,000. Farther Finance Advisors LLC lifted its position in Customers Bancorp by 63.1% during the third quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after purchasing an additional 260 shares during the period. Aster Capital Management DIFC Ltd boosted its holdings in Customers Bancorp by 451.2% in the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after purchasing an additional 767 shares during the last quarter. Finally, CX Institutional purchased a new stake in Customers Bancorp in the third quarter worth approximately $67,000. 89.29% of the stock is currently owned by 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.