Stephens Reaffirms “Equal Weight” Rating for Customers Bancorp (NYSE:CUBI)

Customers Bancorp (NYSE:CUBI)‘s stock had its “equal weight” rating reissued by stock analysts at Stephens in a report released on Friday,Benzinga reports. They currently have a $58.00 target price on the bank’s stock. Stephens’ price target would indicate a potential upside of 0.86% from the company’s current price.

Other analysts have also recently issued research reports about the stock. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Raymond James cut their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Piper Sandler lowered their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Finally, B. Riley boosted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $62.56.

Customers Bancorp Stock Performance

CUBI traded up $7.16 on Friday, hitting $57.51. 249,657 shares of the stock traded hands, compared to its average volume of 332,315. The business has a fifty day moving average price of $51.36 and a two-hundred day moving average price of $50.94. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. Customers Bancorp has a 52 week low of $42.31 and a 52 week high of $68.49. The firm has a market capitalization of $1.80 billion, a PE ratio of 9.28 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. On average, research analysts predict that Customers Bancorp will post 5.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the transaction, the insider now owns 66,256 shares of the company’s stock, valued at $3,556,622.08. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the transaction, the chief executive officer now owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. The trade was a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 96,440 shares of company stock valued at $5,425,815. Insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

A number of institutional investors have recently bought and sold shares of CUBI. Basswood Capital Management L.L.C. bought a new position in shares of Customers Bancorp in the 3rd quarter worth $26,000. R Squared Ltd acquired a new position in Customers Bancorp in the fourth quarter valued at about $42,000. GAMMA Investing LLC boosted its holdings in Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after buying an additional 282 shares during the last quarter. KBC Group NV grew its position in shares of Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after buying an additional 677 shares during the period. Finally, Quest Partners LLC increased its stake in shares of Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after acquiring an additional 962 shares during the last quarter. Institutional investors and hedge funds 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.