Keefe, Bruyette & Woods Issues Positive Forecast for Customers Bancorp (NYSE:CUBI) Stock Price

Customers Bancorp (NYSE:CUBI) had its price target hoisted by Keefe, Bruyette & Woods from $62.00 to $67.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target points to a potential upside of 16.60% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. Piper Sandler dropped their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Stephens reaffirmed an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a research note on Friday. Raymond James lowered their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. B. Riley raised 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. Finally, StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Six investment 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 data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $63.11.

Customers Bancorp Trading Up 14.1 %

CUBI opened at $57.46 on Monday. Customers Bancorp has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 9.33 and a beta of 1.68. The company’s 50 day moving average price is $51.41 and its two-hundred day moving average price is $51.01.

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

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the transaction, the chief executive officer now owns 1,189,738 shares in the company, valued at $65,114,360.74. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the transaction, the director now owns 4,567 shares in the company, valued at $245,613.26. This trade represents a 46.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,440 shares of company stock worth $5,425,815. Company insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Basswood Capital Management L.L.C. acquired a new stake in shares of Customers Bancorp during the third quarter worth about $26,000. R Squared Ltd purchased a new position in Customers Bancorp during the fourth quarter valued at approximately $42,000. KBC Group NV increased its position in shares of Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after purchasing an additional 677 shares in the last quarter. GAMMA Investing LLC boosted its stake 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. Finally, Quest Partners LLC lifted 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 purchasing an additional 962 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.