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

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

Several brokerages recently issued reports on CUBI. Keefe, Bruyette & Woods boosted their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a "market perform" rating in a report on Monday, January 27th. B. Riley boosted their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a "buy" rating in a report on Monday, November 4th. Maxim Group lifted their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Stephens reaffirmed an "equal weight" rating and issued a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, DA Davidson lifted their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 27th.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of the business's stock in a transaction that occurred 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 owns 55,211 shares in the company, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu sold 86,578 shares of the business's stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders sold 206,566 shares of company stock valued at $11,737,558 over the last three months. 6.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. Intech Investment Management LLC raised its stake in shares of Customers Bancorp by 74.2% during the third quarter. Intech Investment Management LLC now owns 25,349 shares of the bank's stock worth $1,177,000 after purchasing an additional 10,797 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in Customers Bancorp by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank's stock worth $1,878,000 after acquiring an additional 21,871 shares during the period. Walleye Capital LLC grew its holdings in Customers Bancorp by 536.3% during the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank's stock worth $1,786,000 after acquiring an additional 32,407 shares during the period. Assenagon Asset Management S.A. grew its holdings in Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank's stock worth $22,284,000 after acquiring an additional 225,785 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Customers Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank's stock worth $23,665,000 after acquiring an additional 12,000 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Trading Down 1.6 %

Shares of NYSE CUBI traded down $0.93 during trading on Wednesday, hitting $57.24. 325,185 shares of the company were exchanged, compared to its average volume of 345,903. The firm has a market capitalization of $1.79 billion, a PE ratio of 11.27 and a beta of 1.68. Customers Bancorp has a 12-month low of $42.31 and a 12-month high of $68.49. The company has a fifty day moving average price of $51.73 and a 200-day moving average price of $50.86. 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 issued its quarterly earnings data 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 EPS for the current 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.