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

Customers Bancorp, Inc (NYSE:CUBI)’s share price 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.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods increased their price target on Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. B. Riley restated a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. Wall Street Zen upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. TD Cowen reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 target price on shares of Customers Bancorp in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.80.

Customers Bancorp Stock Down 8.5%

The company has a market capitalization of $2.54 billion, a price-to-earnings ratio of 15.07 and a beta of 1.61. The business’s 50-day moving average is $73.26 and its 200-day moving average is $68.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The company had revenue of $236.90 million for the quarter, compared to the consensus estimate of $200.38 million. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.During the same period last year, the firm earned $1.36 EPS. As a group, equities analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 128,185 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the completion of the transaction, the chief executive officer directly owned 790,031 shares in the company, valued at approximately $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Bernard Bennett Banks sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $66.93, for a total value of $602,370.00. Following the completion of the transaction, the director directly owned 7,524 shares of the company’s stock, valued at $503,581.32. The trade was a 54.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 211,900 shares of company stock valued at $14,595,664 over the last ninety days. Company insiders own 8.69% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Large investors have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd acquired a new stake in Customers Bancorp during the third quarter valued at $29,000. Jones Financial Companies Lllp purchased a new stake in shares of Customers Bancorp during the 1st quarter worth about $37,000. Farther Finance Advisors LLC boosted its stake in shares of Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock worth $44,000 after acquiring an additional 260 shares in the last quarter. Aster Capital Management DIFC Ltd grew its position in shares of Customers Bancorp by 451.2% during the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after acquiring an additional 767 shares during the period. Finally, CX Institutional purchased a new position in shares of Customers Bancorp in the 3rd quarter valued at about $67,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.