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

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $64.00.

CUBI has been the topic of several analyst reports. StockNews.com raised Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Sunday, December 1st. DA Davidson increased their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Monday, January 27th. Keefe, Bruyette & Woods raised their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a "market perform" rating in a report on Monday, January 27th. Maxim Group upped their price target on shares of Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a report on Monday, January 27th. Finally, Stephens reissued an "equal weight" rating and issued a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th.

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Insider Buying and Selling at Customers Bancorp

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

Hedge Funds Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Basswood Capital Management L.L.C. purchased a new position in shares of Customers Bancorp in the third quarter worth about $26,000. Picton Mahoney Asset Management raised its position in Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock worth $28,000 after buying an additional 189 shares during the last quarter. R Squared Ltd acquired a new stake in shares of Customers Bancorp in the fourth quarter worth $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Customers Bancorp during the fourth quarter worth $46,000. Finally, KBC Group NV lifted its position in Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock valued at $73,000 after purchasing an additional 677 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Performance

Shares of NYSE CUBI traded down $1.69 during midday trading on Thursday, hitting $50.17. 247,596 shares of the stock traded hands, compared to its average volume of 366,272. The firm has a 50-day moving average of $53.59 and a two-hundred day moving average of $50.95. The firm has a market capitalization of $1.58 billion, a P/E ratio of 9.88 and a beta of 1.74. Customers Bancorp has a one year low of $42.31 and a one year high of $68.49. 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 (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 EPS 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%. On average, equities analysts forecast that Customers Bancorp will post 6.45 EPS for the current fiscal year.

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.