Customers Bancorp (NYSE:CUBI) Stock Price Crosses Below 50-Day Moving Average – Time to Sell?

Customers Bancorp, Inc (NYSE:CUBI)’s share price crossed below its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $78.58 and traded as low as $74.05. Customers Bancorp shares last traded at $74.7160, with a volume of 215,357 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on CUBI. Morgan Stanley lowered shares of Customers Bancorp from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $88.00 to $89.00 in a research note on Tuesday, September 8th. DA Davidson raised their target price on shares of Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a report on Monday, July 27th. Piper Sandler lifted their price target on shares of Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday, June 26th. Fundamental Research set a $94.00 price target on shares of Customers Bancorp in a report on Wednesday, July 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a report on Friday, September 25th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.82.

Customers Bancorp Stock Performance

The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $2.47 billion, a price-to-earnings ratio of 8.91 and a beta of 1.52. The stock has a 50 day simple moving average of $78.40 and a two-hundred day simple moving average of $76.74.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. The company had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%. Customers Bancorp’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the business earned $1.80 EPS. As a group, analysts anticipate that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, Chairman Jay Sidhu sold 68,821 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the completion of the sale, the chairman owned 667,757 shares in the company, valued at $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 100,000 shares of company stock worth $7,981,084. 10.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new stake in Customers Bancorp during the second quarter worth approximately $385,165,000. Wellington Management Group LLP lifted its position in shares of Customers Bancorp by 3.8% during the 2nd quarter. Wellington Management Group LLP now owns 4,035,500 shares of the bank’s stock worth $319,208,000 after buying an additional 145,956 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Customers Bancorp by 3.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock worth $134,859,000 after buying an additional 65,954 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Customers Bancorp by 213.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock valued at $54,056,000 after buying an additional 529,987 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Customers Bancorp by 9.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 461,956 shares of the bank’s stock valued at $32,776,000 after buying an additional 40,104 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Company Profile

Customers Bancorp, Inc is a bank holding company whose principal subsidiary, Customers Bank, provides commercial and consumer banking services. The bank offers deposit accounts, commercial and residential real estate lending, business loans, equipment financing, consumer loans and other credit products. It also provides treasury management, payment and cash-management services for business and institutional customers.

Customers Bank focuses on serving small and mid-sized businesses, entrepreneurs, professionals, consumers and select institutional clients.