Customers Bancorp (NYSE:CUBI) Trading Down 6.5%

Customers Bancorp, Inc. (NYSE:CUBI) shares traded down 6.5% during mid-day trading on Monday . The stock traded as low as $45.63 and last traded at $45.82. 342,919 shares traded hands during trading, an increase of 20% from the average session volume of 285,943 shares. The stock had previously closed at $49.02.

Analyst Upgrades and Downgrades

CUBI has been the subject of a number of research analyst reports. Wedbush dropped their price target on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, January 26th. B. Riley raised their target price on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Jefferies Financial Group boosted their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Raymond James raised their price objective on shares of Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, January 29th. Two analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and an average target price of $61.86.

Customers Bancorp Stock Up 1.1 %

The stock has a market capitalization of $1.48 billion, a PE ratio of 6.40 and a beta of 1.67. The stock’s 50-day moving average price is $51.99 and its two-hundred day moving average price is $48.35. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.14. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. The firm had revenue of $191.18 million during the quarter, compared to analyst estimates of $187.87 million. As a group, analysts expect that Customers Bancorp, Inc. will post 6.85 EPS for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the sale, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CFO Carla A. Leibold sold 35,832 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Glenn Hedde sold 666 shares of the business’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total value of $36,097.20. Following the completion of the transaction, the insider now owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. 9.40% of the stock is owned by company insiders.

Institutional Trading of Customers Bancorp

A number of institutional investors have recently made changes to their positions in CUBI. BluePath Capital Management LLC bought a new position in Customers Bancorp during the third quarter valued at approximately $31,000. Gyon Technologies Capital Management LP bought a new position in shares of Customers Bancorp during the 4th quarter valued at $38,000. GAMMA Investing LLC bought a new position in shares of Customers Bancorp during the 4th quarter valued at $78,000. Coppell Advisory Solutions LLC bought a new stake in shares of Customers Bancorp in the second quarter worth $56,000. Finally, Tower Research Capital LLC TRC increased its position in Customers Bancorp by 129.2% during the first quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after acquiring an additional 1,253 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

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.