Customers Bancorp (NYSE:CUBI) Shares Gap Down – What’s Next?

Customers Bancorp, Inc (NYSE:CUBI) gapped down prior to trading on Friday . The stock had previously closed at $81.21, but opened at $76.92. Customers Bancorp shares last traded at $76.4790, with a volume of 78,252 shares traded.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Customers Bancorp in a report on Monday, December 29th. TD Cowen reiterated a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 price objective on shares of Customers Bancorp in a research note on Tuesday, January 6th. B. Riley restated a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. Finally, Morgan Stanley began coverage on shares of Customers Bancorp in a report on Monday, December 8th. They issued an “equal weight” rating and a $90.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

Customers Bancorp Trading Down 8.5%

The company has a market cap of $2.54 billion, a PE ratio of 15.07 and a beta of 1.61. The stock has a fifty day moving average of $73.26 and a 200-day moving average of $68.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $236.90 million during the quarter, compared to analyst estimates of $200.38 million. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. During the same quarter last year, the business posted $1.36 EPS. Sell-side analysts anticipate that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, EVP Philip Watkins sold 2,900 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the completion of the sale, the executive vice president directly owned 50,849 shares in the company, valued at approximately $3,307,218.96. This represents a 5.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernard Bennett Banks sold 9,000 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the transaction, the director directly owned 7,524 shares in the company, valued at $503,581.32. The trade was a 54.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 211,900 shares of company stock valued at $14,595,664 in the last ninety days. Corporate insiders own 8.69% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CUBI. Vanguard Group Inc. lifted its position in shares of Customers Bancorp by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank’s stock worth $140,892,000 after purchasing an additional 81,200 shares during the period. Hood River Capital Management LLC raised its stake in Customers Bancorp by 1.6% in the second quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank’s stock worth $89,462,000 after buying an additional 23,416 shares in the last quarter. American Century Companies Inc. lifted its holdings in Customers Bancorp by 7.9% during the third quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after buying an additional 69,200 shares during the period. Geode Capital Management LLC lifted its stake in shares of Customers Bancorp by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 695,204 shares of the bank’s stock worth $40,841,000 after purchasing an additional 2,494 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Customers Bancorp by 9.4% during the second quarter. JPMorgan Chase & Co. now owns 435,637 shares of the bank’s stock valued at $25,589,000 after purchasing an additional 37,309 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.