Customers Bancorp (NYSE:CUBI) Sets New 52-Week Low – Should You Sell?

Customers Bancorp, Inc. (NYSE:CUBI)’s share price reached a new 52-week low on Friday . The stock traded as low as $42.23 and last traded at $42.86, with a volume of 18396 shares. The stock had previously closed at $45.59.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on CUBI shares. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a report on Monday, January 27th. Maxim Group increased their price target on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Stephens restated an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, DA Davidson raised their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Six equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Customers Bancorp has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Price Performance

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $1.36 billion, a PE ratio of 8.51 and a beta of 1.47. The business’s 50-day moving average price is $53.25 and its 200 day moving average price is $50.95.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. Research analysts forecast that Customers Bancorp, Inc. will post 6.45 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 33,173 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $57.25, for a total value of $1,899,154.25. Following the sale, the chief executive officer now directly owns 1,032,723 shares of the company’s stock, valued at $59,123,391.75. This represents a 3.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Glenn Hedde sold 15,815 shares of the company’s stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of the sale, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,988 shares of company stock valued at $6,627,318. 6.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Customers Bancorp

Several large investors have recently modified their holdings of the stock. Picton Mahoney Asset Management increased its stake in Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after purchasing an additional 189 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Customers Bancorp during the fourth quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Customers Bancorp in the 4th quarter worth approximately $46,000. KBC Group NV lifted its position in Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after acquiring an additional 677 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in Customers Bancorp by 323.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after purchasing an additional 1,255 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.