Customers Bancorp (NYSE:CUBI) Lowered to “Underweight” Rating by Stephens

Customers Bancorp (NYSE:CUBI) was downgraded by equities research analysts at Stephens from an “equal weight” rating to an “underweight” rating in a report released on Friday, MarketBeat Ratings reports. They presently have a $71.00 target price on the bank’s stock. Stephens’ price objective would suggest a potential downside of 7.58% from the stock’s current price.

A number of other equities research analysts have also issued reports on CUBI. DA Davidson increased their target price on shares of Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 target price on shares of Customers Bancorp in a report on Tuesday, January 6th. Hovde Group boosted their price target on shares of Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a report on Thursday, October 30th. Zacks Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Keefe, Bruyette & Woods lifted their price objective 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. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.80.

Customers Bancorp Stock Down 1.9%

Shares of NYSE CUBI opened at $76.83 on Friday. Customers Bancorp has a 52-week low of $40.75 and a 52-week high of $82.56. The company’s 50-day simple moving average is $75.45 and its 200-day simple moving average is $69.47. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 12.39 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The company had revenue of $236.90 million during the quarter, compared to analysts’ expectations of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same quarter in the prior year, the company earned $1.36 EPS. Equities analysts predict that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, EVP Philip Watkins sold 2,900 shares of the company’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $65.04, for a total transaction of $188,616.00. Following the completion of the transaction, the executive vice president owned 50,849 shares in the company, valued at approximately $3,307,218.96. This represents a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay S. Sidhu sold 128,185 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the transaction, the chief executive officer owned 790,031 shares in the company, valued at approximately $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 179,465 shares of company stock valued at $12,405,351. Corporate insiders own 8.69% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Customers Bancorp by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock valued at $162,424,000 after purchasing an additional 66,031 shares in the last quarter. Hood River Capital Management LLC grew its holdings in Customers Bancorp by 1.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank’s stock valued at $89,462,000 after buying an additional 23,416 shares during the last quarter. American Century Companies Inc. increased its position in Customers Bancorp by 7.9% during the third quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after buying an additional 69,200 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Customers Bancorp by 0.4% in the second quarter. Geode Capital Management LLC now owns 695,204 shares of the bank’s stock worth $40,841,000 after acquiring an additional 2,494 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Customers Bancorp by 9.4% in the second quarter. JPMorgan Chase & Co. now owns 435,637 shares of the bank’s stock valued at $25,589,000 after acquiring an additional 37,309 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.