BidaskClub Lowers Customers Bancorp Inc (CUBI) to Strong Sell

BidaskClub cut shares of Customers Bancorp Inc (NYSE:CUBI) from a sell rating to a strong sell rating in a report issued on Friday.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $36.00 price objective on shares of Customers Bancorp in a research report on Friday, June 30th. TheStreet upgraded shares of Customers Bancorp from a c+ rating to a b rating in a research note on Wednesday, May 17th. Finally, Zacks Investment Research downgraded shares of Customers Bancorp from a buy rating to a hold rating in a research note on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $39.50.

Customers Bancorp (NYSE CUBI) opened at 28.06 on Friday. The firm has a market cap of $862.28 million, a price-to-earnings ratio of 11.48 and a beta of 0.65. The firm’s 50 day moving average is $28.46 and its 200-day moving average is $29.78. Customers Bancorp has a 12 month low of $24.37 and a 12 month high of $36.93.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Wednesday, July 26th. The bank reported $0.78 EPS for the quarter, topping the consensus estimate of $0.62 by $0.16. The business had revenue of $68.62 million for the quarter, compared to analyst estimates of $67.14 million. Customers Bancorp had a net margin of 38.30% and a return on equity of 15.00%. The company’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.67 earnings per share. On average, equities analysts forecast that Customers Bancorp will post $2.67 EPS for the current year.

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Several institutional investors and hedge funds have recently bought and sold shares of CUBI. BlackRock Inc. increased its stake in shares of Customers Bancorp by 68,969.6% in the first quarter. BlackRock Inc. now owns 3,487,325 shares of the bank’s stock worth $109,954,000 after purchasing an additional 3,482,276 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Customers Bancorp by 37.1% in the first quarter. Victory Capital Management Inc. now owns 1,177,660 shares of the bank’s stock worth $37,132,000 after purchasing an additional 318,752 shares in the last quarter. State Street Corp increased its stake in shares of Customers Bancorp by 43.3% in the first quarter. State Street Corp now owns 1,036,453 shares of the bank’s stock worth $32,681,000 after purchasing an additional 313,181 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Customers Bancorp by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,977,458 shares of the bank’s stock worth $55,924,000 after purchasing an additional 301,538 shares in the last quarter. Finally, New Amsterdam Partners LLC NY purchased a new position in shares of Customers Bancorp in the second quarter worth about $7,404,000. Hedge funds and other institutional investors own 87.53% 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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