Customers Bancorp (NYSE:CUBI) Share Price Crosses Above Fifty Day Moving Average – Time to Sell?

Shares of Customers Bancorp, Inc (NYSE:CUBI) passed above its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $79.38 and traded as high as $79.61. Customers Bancorp shares last traded at $77.4230, with a volume of 327,318 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently weighed in on CUBI. Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Morgan Stanley downgraded Customers Bancorp from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $88.00 to $89.00 in a report on Tuesday, September 8th. Fundamental Research set a $94.00 price target on Customers Bancorp in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Finally, DA Davidson increased their price objective on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $91.36.

Customers Bancorp Stock Up 0.2%

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01. The company has a market capitalization of $2.60 billion, a P/E ratio of 9.38 and a beta of 1.47. The company has a 50-day moving average of $79.37 and a two-hundred day moving average of $75.93.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.05. The business had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.80 earnings per share. On average, research analysts predict that Customers Bancorp, Inc will post 8.42 EPS for the current year.

Insider Activity

In related news, Chairman Jay Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the completion of the transaction, the chairman directly owned 667,757 shares of the company’s stock, valued at $53,480,658.13. This trade represents a 9.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 100,000 shares of company stock valued at $7,981,084. 10.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new position in shares of Customers Bancorp during the second quarter valued at approximately $385,165,000. Assenagon Asset Management S.A. grew its stake in shares of Customers Bancorp by 213.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock worth $54,056,000 after buying an additional 529,987 shares during the last quarter. Tieton Capital Management LLC bought a new position in Customers Bancorp during the 2nd quarter valued at approximately $20,264,000. Northwestern Mutual Wealth Management Co. increased its position in Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock valued at $16,279,000 after buying an additional 222,546 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Customers Bancorp during the second quarter valued at $16,369,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking services to businesses, institutions, professionals and individual consumers.

Customers Bank offers commercial and industrial lending, commercial real estate loans, small business financing, residential and consumer loans, deposit accounts, cash-management services and other treasury-management solutions. The bank also operates specialty and digital banking businesses designed to support technology companies, venture-backed businesses, financial institutions and other commercial clients.

Customers Bancorp was established in 2009 and has developed from a regional banking organization into a bank with both Mid-Atlantic operations and nationally oriented specialty-finance and digital capabilities.