Customers Bancorp, Inc. (NYSE:CUBI) Receives $64.00 Average Price Target from Analysts

Customers Bancorp, Inc. (NYSE:CUBI) has been assigned an average rating of “Moderate Buy” from the ten brokerages that are currently covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $64.00.

A number of equities research analysts recently commented on CUBI shares. Stephens restated an “equal weight” rating and set a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. Maxim Group increased their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Piper Sandler reduced their price target on shares of 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 raised their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th.

Customers Bancorp Stock Up 2.0 %

Shares of NYSE CUBI opened at $58.07 on Wednesday. The business has a fifty day moving average of $51.82 and a two-hundred day moving average of $50.68. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. Customers Bancorp has a 52-week low of $42.31 and a 52-week high of $68.49. The stock has a market cap of $1.82 billion, a PE ratio of 11.43 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating 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%. As a group, equities research analysts expect that Customers Bancorp will post 6.33 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total value of $215,120.00. Following the transaction, the director now directly owns 4,567 shares in the company, valued at $245,613.26. This trade represents a 46.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the sale, the insider now directly owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 119,988 shares of company stock valued at $6,842,438. 6.92% of the stock is currently owned by insiders.

Institutional Trading of Customers Bancorp

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its holdings in Customers Bancorp by 10.5% during the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after acquiring an additional 169,982 shares in the last quarter. American Century Companies Inc. raised its position in shares of Customers Bancorp by 5.9% during the fourth quarter. American Century Companies Inc. now owns 773,772 shares of the bank’s stock worth $37,667,000 after purchasing an additional 42,965 shares during the period. Geode Capital Management LLC grew its position in shares of Customers Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after purchasing an additional 17,941 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Customers Bancorp by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after purchasing an additional 12,000 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after purchasing an additional 225,785 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.