Customers Bancorp (NYSE:CUBI) Hits New 1-Year Low at $19.70

Customers Bancorp, Inc. (NYSE:CUBI – Get Rating)’s stock price reached a new 52-week low on Monday . The stock traded as low as $19.70 and last traded at $19.70, with a volume of 22659 shares changing hands. The stock had previously closed at $22.86.

Analyst Ratings Changes

CUBI has been the subject of several research reports. DA Davidson restated a “buy” rating on shares of Customers Bancorp in a report on Wednesday, December 21st. Stephens set a $45.00 price target on shares of Customers Bancorp in a research note on Wednesday, November 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Customers Bancorp Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.86 and a debt-to-equity ratio of 0.78. The company’s 50 day moving average is $29.65 and its 200-day moving average is $30.82. The company has a market capitalization of $571.33 million, a P/E ratio of 2.79 and a beta of 1.56.

Customers Bancorp (NYSE:CUBI – Get Rating) last released its earnings results on Wednesday, January 25th. The bank reported $1.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.66 by ($0.47). The business had revenue of $142.48 million for the quarter, compared to analysts’ expectations of $169.85 million. Customers Bancorp had a net margin of 24.85% and a return on equity of 21.40%. Equities analysts anticipate that Customers Bancorp, Inc. will post 5.35 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In other news, Director Daniel K. Rothermel acquired 5,000 shares of Customers Bancorp stock in a transaction on Monday, March 13th. The stock was acquired at an average cost of $10.71 per share, for a total transaction of $53,550.00. Following the purchase, the director now owns 102,962 shares in the company, valued at $1,102,723.02. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Customers Bancorp news, CEO Jay S. Sidhu acquired 45,450 shares of Customers Bancorp stock in a transaction that occurred on Monday, March 13th. The stock was bought at an average cost of $11.00 per share, for a total transaction of $499,950.00. Following the acquisition, the chief executive officer now owns 1,167,626 shares of the company’s stock, valued at $12,843,886. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Daniel K. Rothermel bought 5,000 shares of the stock in a transaction on Monday, March 13th. The shares were bought at an average price of $10.71 per share, for a total transaction of $53,550.00. Following the purchase, the director now directly owns 102,962 shares in the company, valued at approximately $1,102,723.02. The disclosure for this purchase can be found here. Insiders own 6.75% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CUBI. Gyon Technologies Capital Management LP bought a new stake in Customers Bancorp in the 4th quarter worth approximately $38,000. Wipfli Financial Advisors LLC bought a new stake in shares of Customers Bancorp in the third quarter worth $82,000. Point72 Hong Kong Ltd lifted its holdings in Customers Bancorp by 25.2% in the third quarter. Point72 Hong Kong Ltd now owns 3,021 shares of the bank’s stock valued at $89,000 after acquiring an additional 609 shares during the period. Point72 Middle East FZE purchased a new position in Customers Bancorp in the fourth quarter worth about $94,000. Finally, Captrust Financial Advisors grew its stake in shares of Customers Bancorp by 38.9% during the 1st quarter. Captrust Financial Advisors now owns 3,761 shares of the bank’s stock valued at $196,000 after purchasing an additional 1,054 shares during the period. 84.33% of the stock is owned by hedge funds and other institutional investors.

About Customers Bancorp

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Customers Bancorp, Inc operates as a bank holding company, which engages in the provision of banking services through its subsidiary, Customers Bank. It operates through the Customers Bank Business Banking and BankMobile segments. The Customers Bank Business Banking segment includes commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington, DC, and Illinois through a single-point-of-contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies.