Customers Bancorp (NYSE:CUBI) Downgraded by Wall Street Zen to "Sell"

Customers Bancorp (NYSE:CUBI - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Thursday.

A number of other brokerages also recently weighed in on CUBI. Maxim Group boosted their price target on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 27th. B. Riley boosted their target price on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Stephens restated an "equal weight" rating and issued a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson lifted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating for the company in a research report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Customers Bancorp has an average rating of "Hold" and a consensus target price of $64.00.

Customers Bancorp Stock Up 0.2%

NYSE CUBI traded up $0.12 during trading hours on Thursday, reaching $51.44. 9,276 shares of the company traded hands, compared to its average volume of 294,169. The stock has a market capitalization of $1.62 billion, a PE ratio of 10.13 and a beta of 1.51. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. Customers Bancorp has a 12 month low of $40.75 and a 12 month high of $68.49. The company has a 50 day moving average of $49.37 and a two-hundred day moving average of $51.56.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.28 by $0.26. The business had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. During the same quarter in the prior year, the business posted $1.68 EPS. As a group, equities analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Picton Mahoney Asset Management grew its stake in shares of Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after purchasing an additional 189 shares in the last quarter. EP Wealth Advisors LLC grew its position in Customers Bancorp by 5.3% in the 1st quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank's stock valued at $222,000 after buying an additional 223 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares during the period. Nisa Investment Advisors LLC increased its stake in Customers Bancorp by 3.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock valued at $373,000 after buying an additional 270 shares during the period. Finally, Sanctuary Advisors LLC raised its position in shares of Customers Bancorp by 3.2% during the 4th quarter. Sanctuary Advisors LLC now owns 9,714 shares of the bank's stock worth $473,000 after buying an additional 302 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.

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