Customers Bancorp (NYSE:CUBI) Rating Lowered to Underweight at Stephens

Customers Bancorp (NYSE:CUBI) was downgraded by investment analysts at Stephens from an “equal weight” rating to an “underweight” rating in a note issued to investors on Friday, MarketBeat reports. They currently have a $71.00 target price on the bank’s stock. Stephens’ price objective would suggest a potential downside of 6.89% from the stock’s previous close.

A number of other research analysts have also weighed in on CUBI. Keefe, Bruyette & Woods lifted their price target on shares of Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. TD Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Morgan Stanley assumed coverage on Customers Bancorp in a research note on Monday, December 8th. They issued an “equal weight” rating and a $90.00 price target on the stock. Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Wall Street Zen lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $87.80.

Customers Bancorp Stock Performance

CUBI opened at $76.25 on Friday. The stock’s 50 day moving average price is $75.60 and its two-hundred day moving average price is $69.60. 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 capitalization of $2.61 billion, a P/E ratio of 12.30 and a beta of 1.65. Customers Bancorp has a 12-month low of $40.75 and a 12-month high of $82.56.

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

Insider Buying and Selling

In other Customers Bancorp news, EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $65.04, for a total transaction of $188,616.00. Following the transaction, the executive vice president owned 50,849 shares of the company’s stock, valued at $3,307,218.96. The trade was a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jay S. Sidhu sold 128,185 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total value of $8,899,884.55. Following the completion of the sale, the chief executive officer directly owned 790,031 shares of the company’s stock, valued at approximately $54,851,852.33. The trade was a 13.96% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 179,465 shares of company stock valued at $12,405,351. Corporate insiders own 8.69% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Access Investment Management LLC boosted its holdings in shares of Customers Bancorp by 15.7% during the 3rd quarter. Access Investment Management LLC now owns 132,415 shares of the bank’s stock worth $8,656,000 after buying an additional 18,000 shares during the period. Assenagon Asset Management S.A. raised its holdings in Customers Bancorp by 29.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 290,919 shares of the bank’s stock valued at $19,017,000 after acquiring an additional 65,382 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in Customers Bancorp during the second quarter worth approximately $418,000. First Eagle Investment Management LLC lifted its position in Customers Bancorp by 15.8% during the second quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock worth $5,857,000 after acquiring an additional 13,600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Customers Bancorp by 7.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 398,723 shares of the bank’s stock worth $25,718,000 after acquiring an additional 28,928 shares during the period. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.