Customers Bancorp (NYSE:CUBI) Reaches New 12-Month Low – Here’s Why

Customers Bancorp, Inc. (NYSE:CUBI)’s stock price hit a new 52-week low during trading on Friday . The stock traded as low as $42.23 and last traded at $42.86, with a volume of 18396 shares changing hands. The stock had previously closed at $45.59.

Analyst Ratings Changes

CUBI has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday, January 27th. DA Davidson lifted their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Monday, January 27th. Stephens restated an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, Maxim Group boosted their price objective on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $64.00.

Customers Bancorp Price Performance

The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $1.36 billion, a P/E ratio of 8.51 and a beta of 1.47. The company has a fifty day simple moving average of $53.25 and a two-hundred day simple moving average of $50.95.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. Sell-side analysts expect that Customers Bancorp, Inc. will post 6.45 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total value of $3,806,940.00. Following the sale, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This trade represents a 6.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Glenn Hedde sold 15,815 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the transaction, the insider now owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 115,988 shares of company stock valued at $6,627,318 in the last 90 days. 6.92% of the stock is owned by company insiders.

Institutional Trading of Customers Bancorp

Hedge funds have recently added to or reduced their stakes in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Customers Bancorp by 29.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,798 shares of the bank’s stock worth $3,690,000 after acquiring an additional 17,182 shares in the last quarter. Voloridge Investment Management LLC increased its stake in Customers Bancorp by 82.4% during the 4th quarter. Voloridge Investment Management LLC now owns 128,207 shares of the bank’s stock worth $6,241,000 after purchasing an additional 57,903 shares in the last quarter. Squarepoint Ops LLC raised its holdings in Customers Bancorp by 15.0% during the 4th quarter. Squarepoint Ops LLC now owns 154,474 shares of the bank’s stock worth $7,520,000 after buying an additional 20,122 shares during the period. Twinbeech Capital LP lifted its stake in Customers Bancorp by 1.4% in the fourth quarter. Twinbeech Capital LP now owns 75,363 shares of the bank’s stock valued at $3,669,000 after buying an additional 1,052 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its holdings in shares of Customers Bancorp by 51.7% in the fourth quarter. Two Sigma Advisers LP now owns 13,200 shares of the bank’s stock valued at $643,000 after buying an additional 4,500 shares during the period. Institutional investors and hedge funds 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.