BidaskClub Lowers Customers Bancorp, Inc (CUBI) to Sell
Customers Bancorp, Inc (NYSE:CUBI) was downgraded by equities research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
Several other brokerages have also commented on CUBI. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $36.00 price objective on shares of Customers Bancorp in a research report on Friday, June 30th. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Maxim Group reiterated a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a research report on Thursday, April 27th. Finally, TheStreet upgraded Customers Bancorp from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.50.
Customers Bancorp (CUBI) traded down 0.55% on Thursday, hitting $28.73. 5,440 shares of the stock traded hands. Customers Bancorp has a 12-month low of $24.37 and a 12-month high of $36.93. The company’s 50 day moving average price is $28.59 and its 200-day moving average price is $30.84. The stock has a market capitalization of $882.87 million, a P/E ratio of 11.75 and a beta of 0.63.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.16. Customers Bancorp had a return on equity of 15.93% and a net margin of 22.81%. The firm had revenue of $68.62 million for the quarter, compared to analysts’ expectations of $67.14 million. During the same quarter last year, the firm posted $0.67 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Analysts predict that Customers Bancorp will post $2.65 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC bought a new position in Customers Bancorp during the second quarter valued at about $123,000. BNP Paribas Arbitrage SA raised its position in Customers Bancorp by 10.4% in the first quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the bank’s stock valued at $161,000 after buying an additional 479 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Customers Bancorp by 8.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock valued at $158,000 after buying an additional 450 shares during the last quarter. State of Alaska Department of Revenue raised its position in Customers Bancorp by 80.2% in the second quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock valued at $159,000 after buying an additional 2,517 shares during the last quarter. Finally, US Bancorp DE raised its position in Customers Bancorp by 8.3% in the first quarter. US Bancorp DE now owns 5,890 shares of the bank’s stock valued at $186,000 after buying an additional 450 shares during the last quarter. Institutional investors and hedge funds own 87.82% of the company’s stock.
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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