BidaskClub Downgrades Customers Bancorp, Inc (NYSE:CUBI) to Sell

Customers Bancorp, Inc (NYSE:CUBI) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Other equities research analysts have also issued reports about the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 price objective on shares of Customers Bancorp in a report on Friday, June 30th. TheStreet raised shares of Customers Bancorp from a “c+” rating to a “b” rating in a report on Wednesday, May 17th. Maxim Group reaffirmed a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a report on Thursday, April 27th. Finally, Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $39.50.

Shares of Customers Bancorp (NYSE CUBI) traded down 1.20% during midday trading on Thursday, reaching $27.98. 194,703 shares of the company’s stock traded hands. The firm has a market capitalization of $859.83 million, a PE ratio of 11.44 and a beta of 0.63. Customers Bancorp has a one year low of $24.37 and a one year high of $36.93. The stock’s 50-day moving average price is $28.62 and its 200 day moving average price is $30.78.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.16. Customers Bancorp had a net margin of 22.81% and a return on equity of 15.93%. The company had revenue of $68.62 million during the quarter, compared to analyst estimates of $67.14 million. During the same period in the prior year, the firm posted $0.67 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. On average, equities research analysts expect that Customers Bancorp will post $2.65 earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the stock. Alps Advisors Inc. raised its stake in shares of Customers Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 14,590 shares of the bank’s stock worth $413,000 after buying an additional 38 shares during the period. Texas Permanent School Fund raised its stake in shares of Customers Bancorp by 0.4% in the first quarter. Texas Permanent School Fund now owns 20,615 shares of the bank’s stock worth $650,000 after buying an additional 75 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Customers Bancorp by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the bank’s stock worth $331,000 after buying an additional 100 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Customers Bancorp by 0.5% in the first quarter. Municipal Employees Retirement System of Michigan now owns 37,550 shares of the bank’s stock worth $1,184,000 after buying an additional 200 shares during the period. Finally, Arizona State Retirement System raised its stake in shares of Customers Bancorp by 1.4% in the second quarter. Arizona State Retirement System now owns 15,000 shares of the bank’s stock worth $424,000 after buying an additional 200 shares during the period. 87.82% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Company Profile

Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

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