Brokerages Set Customers Bancorp, Inc. (NYSE:CUBI) Target Price at $62.22

Shares of Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $62.22.

A number of equities analysts recently weighed in on the stock. 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 report on Wednesday, October 2nd. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $52.00 to $62.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Stephens boosted their target price on Customers Bancorp from $53.00 to $55.00 and gave the stock an "equal weight" rating in a report on Monday, November 11th. Wedbush downgraded Customers Bancorp from an "outperform" rating to a "neutral" rating and cut their price target for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, B. Riley lifted their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, November 4th.

Customers Bancorp Stock Down 3.4 %

NYSE:CUBI traded down $1.59 during trading hours on Friday, reaching $45.50. 383,497 shares of the stock were exchanged, compared to its average volume of 312,431. The stock has a market cap of $1.43 billion, a PE ratio of 7.39 and a beta of 1.68. Customers Bancorp has a twelve month low of $42.31 and a twelve month high of $68.49. The firm has a 50 day moving average of $52.06 and a 200 day moving average of $50.90. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the previous year, the company posted $2.59 EPS. The business's revenue for the quarter was down 23.2% compared to the same quarter last year. On average, equities analysts expect that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Transactions at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 86,578 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the sale, the chief executive officer now directly owns 1,090,598 shares of the company's stock, valued at approximately $61,662,410.92. This represents a 7.35 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the director now owns 4,567 shares in the company, valued at $245,613.26. The trade was a 46.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,440 shares of company stock valued at $5,425,815. 6.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Basswood Capital Management L.L.C. bought a new stake in shares of Customers Bancorp during the 3rd quarter valued at approximately $26,000. GAMMA Investing LLC grew its stake in shares of 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. Quest Partners LLC increased its holdings in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank's stock worth $76,000 after buying an additional 962 shares in the last quarter. Point72 DIFC Ltd bought a new position in shares of Customers Bancorp in the 3rd quarter valued at $84,000. Finally, CWM LLC boosted its holdings in shares of Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank's stock valued at $102,000 after acquiring an additional 274 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.