Customers Bancorp (NYSE:CUBI) Downgraded by Wall Street Zen to “Sell”

Wall Street Zen lowered shares of Customers Bancorp (NYSE:CUBI) from a hold rating to a sell rating in a research note released on Saturday morning.

Several other analysts have also recently issued reports on CUBI. B. Riley upped their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods dropped their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $64.00.

Customers Bancorp Trading Up 1.0%

Shares of Customers Bancorp stock opened at $51.97 on Friday. The company’s fifty day simple moving average is $50.66 and its 200-day simple moving average is $51.06. Customers Bancorp has a 1-year low of $40.75 and a 1-year high of $68.49. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market capitalization of $1.64 billion, a PE ratio of 13.09 and a beta of 1.53.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.26. The business had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a return on equity of 11.64% and a net margin of 10.51%. During the same quarter in the prior year, the business posted $1.68 EPS. As a group, equities analysts anticipate that Customers Bancorp will post 6.45 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Wellington Management Group LLP grew its position in Customers Bancorp by 34.3% during the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after purchasing an additional 902,406 shares during the last quarter. Hood River Capital Management LLC raised its position in Customers Bancorp by 40.1% during the fourth quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock worth $71,606,000 after acquiring an additional 421,335 shares during the period. American Century Companies Inc. lifted its stake in Customers Bancorp by 7.3% in the 1st quarter. American Century Companies Inc. now owns 830,023 shares of the bank’s stock valued at $41,667,000 after buying an additional 56,251 shares in the last quarter. Nuveen LLC acquired a new stake in shares of Customers Bancorp in the first quarter worth approximately $26,652,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Customers Bancorp by 33.1% during the fourth quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock worth $20,912,000 after buying an additional 106,895 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.