TheStreet Lowers Customers Bancorp (CUBI) to C+

TheStreet downgraded shares of Customers Bancorp (NYSE:CUBI) from a b- rating to a c+ rating in a report issued on Thursday, TheStreetRatingsTable reports.

Other equities research analysts also recently issued research reports about the company. B. Riley upgraded Customers Bancorp from a neutral rating to a buy rating and upped their price target for the stock from $23.00 to $30.00 in a report on Thursday, April 11th. Boenning Scattergood restated a buy rating on shares of Customers Bancorp in a report on Friday, January 25th. Finally, ValuEngine upgraded Customers Bancorp from a strong sell rating to a sell rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $29.95.

Shares of NYSE CUBI opened at $20.57 on Thursday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.49. Customers Bancorp has a 1-year low of $16.72 and a 1-year high of $32.34. The stock has a market cap of $640.67 million, a price-to-earnings ratio of 8.47, a P/E/G ratio of 0.96 and a beta of 0.94.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, April 24th. The bank reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.03. Customers Bancorp had a return on equity of 10.90% and a net margin of 13.13%. The company had revenue of $79.02 million for the quarter, compared to the consensus estimate of $82.68 million. During the same quarter in the prior year, the business earned $0.64 EPS. On average, research analysts expect that Customers Bancorp will post 2.2 earnings per share for the current fiscal year.

In other news, VP Steven Issa sold 6,926 shares of the stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $20.48, for a total value of $141,844.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Glenn Hedde sold 1,276 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $21.65, for a total value of $27,625.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,004 shares of company stock worth $337,759. Company insiders own 9.54% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Customers Bancorp by 2.4% in the 4th quarter. BlackRock Inc. now owns 4,480,650 shares of the bank’s stock valued at $81,547,000 after acquiring an additional 105,983 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Customers Bancorp by 1.3% in the 3rd quarter. Vanguard Group Inc. now owns 1,750,099 shares of the bank’s stock valued at $41,180,000 after acquiring an additional 22,159 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Customers Bancorp by 1,274.4% in the 1st quarter. JPMorgan Chase & Co. now owns 911,951 shares of the bank’s stock valued at $16,697,000 after acquiring an additional 845,596 shares during the last quarter. Context BH Capital Management LP increased its holdings in shares of Customers Bancorp by 7.3% in the 4th quarter. Context BH Capital Management LP now owns 692,436 shares of the bank’s stock valued at $12,602,000 after acquiring an additional 47,148 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Customers Bancorp by 10.6% in the 4th quarter. Prudential Financial Inc. now owns 661,610 shares of the bank’s stock valued at $12,041,000 after acquiring an additional 63,435 shares during the last quarter. Institutional investors and hedge funds own 79.37% 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 small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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