Customers Bancorp, Inc (CUBI) Downgraded to Strong Sell at BidaskClub
Customers Bancorp, Inc (NYSE:CUBI) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued to investors on Friday.
A number of other research firms also recently commented on CUBI. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 target price on shares of Customers Bancorp in a research report on Friday, June 30th. Zacks Investment Research downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, TheStreet raised shares of Customers Bancorp from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $39.50.
Shares of Customers Bancorp (NYSE:CUBI) traded up 0.41% during trading on Friday, reaching $27.15. The company’s stock had a trading volume of 34,248 shares. The firm’s 50-day moving average price is $28.46 and its 200-day moving average price is $29.90. Customers Bancorp has a one year low of $24.37 and a one year high of $36.93. The company has a market capitalization of $834.32 million, a price-to-earnings ratio of 11.10 and a beta of 0.65.
Customers Bancorp (NYSE:CUBI) last posted its earnings results on Wednesday, July 26th. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.16. Customers Bancorp had a net margin of 22.81% and a return on equity of 15.93%. The business had revenue of $68.62 million during the quarter, compared to the consensus estimate of $67.14 million. During the same quarter in the previous year, the firm posted $0.67 EPS. The firm’s revenue was up 9.9% on a year-over-year basis. On average, equities analysts anticipate that Customers Bancorp will post $2.67 earnings per share for the current year.
Several hedge funds have recently modified their holdings of CUBI. Flinton Capital Management LLC grew its position in shares of Customers Bancorp by 176.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock valued at $114,000 after acquiring an additional 2,584 shares during the period. SG Americas Securities LLC bought a new stake in shares of Customers Bancorp during the 2nd quarter valued at $123,000. Nisa Investment Advisors LLC grew its position in shares of Customers Bancorp by 8.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock valued at $158,000 after acquiring an additional 450 shares during the period. State of Alaska Department of Revenue grew its position in shares of Customers Bancorp by 80.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock valued at $159,000 after acquiring an additional 2,517 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in shares of Customers Bancorp by 10.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the bank’s stock valued at $161,000 after acquiring an additional 479 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.
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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