Brokerages Set Customers Bancorp, Inc. (NYSE:CUBI) Price Target at $64.00

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

Several brokerages have recently weighed in on CUBI. Maxim Group upped their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Stephens restated an “equal weight” rating and set a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson lifted 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. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th.

Customers Bancorp Trading Up 0.2 %

Shares of Customers Bancorp stock opened at $50.24 on Thursday. The firm has a 50-day simple moving average of $53.60 and a two-hundred day simple moving average of $50.99. 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 fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a market cap of $1.58 billion, a P/E ratio of 9.89 and a beta of 1.74.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. As a group, equities analysts predict that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the firm’s 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 completion of the sale, the insider now directly owns 55,211 shares of the company’s stock, valued at $3,216,040.75. This trade represents a 22.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jay S. Sidhu sold 67,000 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the transaction, the chief executive officer now directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. The trade was a 6.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,988 shares of company stock worth $6,627,318. 6.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the company. Hood River Capital Management LLC grew its stake in shares of Customers Bancorp by 40.1% in the 4th quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock valued at $71,606,000 after buying an additional 421,335 shares during the period. State Street Corp lifted its holdings in Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after acquiring an additional 169,982 shares during the last quarter. Heartland Advisors Inc. acquired a new stake in Customers Bancorp during the fourth quarter worth $7,672,000. Shellback Capital LP purchased a new stake in Customers Bancorp in the fourth quarter valued at $5,257,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Customers Bancorp by 33.1% in the 4th quarter. JPMorgan Chase & Co. now owns 429,572 shares of the bank’s stock valued at $20,912,000 after purchasing an additional 106,895 shares during 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.