Stephens Downgrades Customers Bancorp (NYSE:CUBI) to Underweight

Customers Bancorp (NYSE:CUBI) was downgraded by stock analysts at Stephens from an “equal weight” rating to an “underweight” rating in a research note issued on Friday, MarketBeat.com reports. They currently have a $71.00 target price on the bank’s stock. Stephens’ target price would suggest a potential downside of 7.58% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. B. Riley reissued a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. TD Cowen reissued a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. Maxim Group set a $100.00 price target on Customers Bancorp in a research report on Monday, January 26th. Zacks Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. Finally, Wall Street Zen cut Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.80.

Customers Bancorp Stock Performance

NYSE CUBI opened at $76.83 on Friday. The business’s 50-day moving average price is $75.45 and its 200 day moving average price is $69.47. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. Customers Bancorp has a twelve month low of $40.75 and a twelve month high of $82.56. The company has a market capitalization of $2.62 billion, a PE ratio of 12.39 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The company had revenue of $236.90 million for the quarter, compared to the consensus estimate of $200.38 million. During the same quarter last year, the firm posted $1.36 earnings per share. On average, research analysts predict that Customers Bancorp will post 6.45 earnings per share for the current year.

Insider Activity at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 128,185 shares of the business’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total value of $8,899,884.55. Following the completion of the sale, the chief executive officer directly owned 790,031 shares in the company, valued at approximately $54,851,852.33. The trade was a 13.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the transaction, the executive vice president directly owned 50,849 shares of the company’s stock, valued at $3,307,218.96. This represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 179,465 shares of company stock valued at $12,405,351. Corporate insiders own 8.69% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CUBI. Access Investment Management LLC grew its position in Customers Bancorp by 15.7% in the third quarter. Access Investment Management LLC now owns 132,415 shares of the bank’s stock valued at $8,656,000 after acquiring an additional 18,000 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Customers Bancorp by 29.0% during the third quarter. Assenagon Asset Management S.A. now owns 290,919 shares of the bank’s stock valued at $19,017,000 after acquiring an additional 65,382 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Customers Bancorp in the 2nd quarter valued at $418,000. First Eagle Investment Management LLC grew its holdings in shares of Customers Bancorp by 15.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock worth $5,857,000 after purchasing an additional 13,600 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Customers Bancorp by 7.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 398,723 shares of the bank’s stock worth $25,718,000 after purchasing an additional 28,928 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.