Customers Bancorp (NYSE:CUBI) Upgraded to Sell at ValuEngine

Customers Bancorp (NYSE:CUBI) was upgraded by stock analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Tuesday, ValuEngine reports.

A number of other equities research analysts also recently weighed in on the company. Maxim Group reaffirmed a “buy” rating and set a $38.00 price objective on shares of Customers Bancorp in a research report on Friday. Zacks Investment Research downgraded Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Sandler O’Neill downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $28.19.

Shares of CUBI stock opened at $23.87 on Tuesday. Customers Bancorp has a 1-year low of $16.72 and a 1-year high of $23.90. The stock’s 50-day moving average is $20.80 and its 200 day moving average is $20.48. The company has a market cap of $701.71 million, a P/E ratio of 9.82, a PEG ratio of 1.02 and a beta of 1.06. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.09 and a quick ratio of 1.12.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, October 23rd. The bank reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.02. Customers Bancorp had a return on equity of 9.72% and a net margin of 13.45%. The company had revenue of $99.10 million for the quarter, compared to the consensus estimate of $93.36 million. During the same quarter last year, the company earned $0.62 earnings per share. On average, analysts anticipate that Customers Bancorp will post 2.2 EPS for the current year.

In other Customers Bancorp news, insider James T. Collins sold 1,519 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $21.17, for a total value of $32,157.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.54% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rhumbline Advisers boosted its holdings in Customers Bancorp by 6.2% in the third quarter. Rhumbline Advisers now owns 91,968 shares of the bank’s stock worth $1,907,000 after acquiring an additional 5,408 shares in the last quarter. Foundry Partners LLC boosted its holdings in Customers Bancorp by 25.1% in the third quarter. Foundry Partners LLC now owns 279,985 shares of the bank’s stock worth $5,807,000 after acquiring an additional 56,235 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Customers Bancorp by 58.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,729 shares of the bank’s stock worth $57,000 after acquiring an additional 1,003 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Customers Bancorp by 127.2% in the third quarter. State of Alaska Department of Revenue now owns 22,107 shares of the bank’s stock worth $458,000 after acquiring an additional 12,375 shares in the last quarter. Finally, United Services Automobile Association boosted its holdings in Customers Bancorp by 4.4% in the second quarter. United Services Automobile Association now owns 111,965 shares of the bank’s stock worth $2,351,000 after acquiring an additional 4,700 shares in the last quarter. 79.88% of the stock is owned by institutional investors and hedge funds.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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