Wall Street Zen Downgrades Customers Bancorp (NYSE:CUBI) to Sell

Customers Bancorp (NYSE:CUBI) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research analysts also recently weighed in on CUBI. Keefe, Bruyette & Woods cut their target price on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. B. Riley boosted their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.00.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $51.97 on Friday. Customers Bancorp has a 52 week low of $40.75 and a 52 week high of $68.49. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.76. The firm’s 50-day simple moving average is $50.66 and its 200 day simple moving average is $51.09. The firm has a market capitalization of $1.64 billion, a PE ratio of 13.09 and a beta of 1.53.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping the consensus estimate of $1.28 by $0.26. Customers Bancorp had a net margin of 10.51% and a return on equity of 11.64%. The business had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. During the same period in the previous year, the firm earned $1.68 EPS. On average, equities research analysts predict that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Picton Mahoney Asset Management increased its stake in shares of Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after acquiring an additional 189 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Customers Bancorp during the 1st quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Customers Bancorp during the 4th quarter valued at about $46,000. Smartleaf Asset Management LLC increased its stake in shares of Customers Bancorp by 323.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after acquiring an additional 1,255 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after acquiring an additional 403 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.