Customers Bancorp (NYSE:CUBI) Sees Strong Trading Volume After Strong Earnings

Shares of Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) saw strong trading volume on Friday following a stronger than expected earnings report. 236,006 shares changed hands during mid-day trading, a decline of 17% from the previous session's volume of 285,346 shares.The stock last traded at $45.74 and had previously closed at $49.53.

The bank reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. The firm's revenue for the quarter was up 8.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.58 EPS.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Wedbush cut their price objective on Customers Bancorp from $63.00 to $61.00 and set an "outperform" rating for the company in a report on Friday. B. Riley increased their price objective on Customers Bancorp from $62.00 to $77.00 and gave the company a "buy" rating in a report on Monday, January 29th. Raymond James increased their price objective on Customers Bancorp from $65.00 to $72.00 and gave the company a "strong-buy" rating in a report on Monday, January 29th. Finally, Jefferies Financial Group raised their price target on Customers Bancorp from $61.00 to $64.00 and gave the company a "buy" rating in a report on Monday, April 8th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $61.29.

Insider Buying and Selling at Customers Bancorp

In other news, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares of the company's stock, valued at $2,191,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the completion of the sale, the insider now owns 69,428 shares of the company's stock, valued at $3,762,997.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the sale, the chief financial officer now directly owns 41,224 shares of the company's stock, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. Insiders own 9.40% of the company's stock.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. BluePath Capital Management LLC bought a new position in shares of Customers Bancorp in the third quarter worth $31,000. GAMMA Investing LLC bought a new position in shares of Customers Bancorp in the fourth quarter worth $78,000. Counterpoint Mutual Funds LLC bought a new position in shares of Customers Bancorp in the third quarter worth $87,000. C M Bidwell & Associates Ltd. bought a new position in Customers Bancorp in the third quarter valued at about $112,000. Finally, Federated Hermes Inc. grew its position in Customers Bancorp by 29,550.0% in the third quarter. Federated Hermes Inc. now owns 3,558 shares of the bank's stock valued at $123,000 after acquiring an additional 3,546 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Customers Bancorp Stock Performance

The company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a 50-day simple moving average of $51.53 and a 200-day simple moving average of $48.89. The stock has a market cap of $1.47 billion, a P/E ratio of 6.40 and a beta of 1.67.

Customers Bancorp Company Profile

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.