BidaskClub Lowers Customers Bancorp, Inc (CUBI) to Sell
BidaskClub lowered shares of Customers Bancorp, Inc (NYSE:CUBI) from a hold rating to a sell rating in a research note published on Thursday.
A number of other analysts have also recently weighed in on CUBI. Zacks Investment Research cut Customers Bancorp from a buy rating to a hold rating in a research report on Monday, October 30th. Boenning Scattergood reiterated a hold rating on shares of Customers Bancorp in a research report on Friday, October 27th. Finally, Maxim Group reiterated a buy rating and set a $50.00 price target on shares of Customers Bancorp in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Customers Bancorp has a consensus rating of Hold and an average target price of $40.50.
Shares of Customers Bancorp (CUBI) traded down $0.23 during midday trading on Thursday, reaching $26.61. The company’s stock had a trading volume of 306,647 shares, compared to its average volume of 269,412. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.17 and a quick ratio of 0.91. The firm has a market capitalization of $819.27, a PE ratio of 9.30 and a beta of 0.63. Customers Bancorp has a 12-month low of $24.68 and a 12-month high of $36.93.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09). The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. Customers Bancorp had a return on equity of 2.40% and a net margin of 9.01%. During the same quarter in the previous year, the company posted $0.64 earnings per share. research analysts anticipate that Customers Bancorp will post 2.47 EPS for the current fiscal year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Flinton Capital Management LLC increased its position in Customers Bancorp by 176.7% in 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 acquired a new stake in Customers Bancorp in the 2nd quarter valued at approximately $123,000. Nisa Investment Advisors LLC increased its position in Customers Bancorp by 8.7% in 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 increased its position in Customers Bancorp by 80.2% in 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, GSA Capital Partners LLP acquired a new stake in Customers Bancorp in the 2nd quarter valued at approximately $205,000. Hedge funds and other institutional investors own 87.47% of the company’s stock.
About Customers Bancorp
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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