Customers Bancorp (NYSE:CUBI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Customers Bancorp (NYSE:CUBI - Get Free Report) had its target price hoisted by Keefe, Bruyette & Woods from $62.00 to $67.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price objective indicates a potential upside of 14.88% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. StockNews.com raised Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Sunday, December 1st. Raymond James reduced their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a "strong-buy" rating for the company in a research report on Wednesday, October 2nd. Stephens restated an "equal weight" rating and set a $58.00 price objective on shares of Customers Bancorp in a report on Friday. B. Riley boosted their price objective on Customers Bancorp from $78.00 to $80.00 and gave the stock a "buy" rating in a report on Monday, November 4th. Finally, Piper Sandler cut their target price on Customers Bancorp from $61.00 to $55.00 and set a "neutral" rating on the stock in a research report on Monday, November 4th. Six investment 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $64.00.

Customers Bancorp Trading Up 1.7 %

Shares of CUBI stock traded up $0.97 during mid-day trading on Monday, hitting $58.32. The company's stock had a trading volume of 629,266 shares, compared to its average volume of 391,817. Customers Bancorp has a 52 week low of $42.31 and a 52 week high of $68.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The company's fifty day simple moving average is $51.41 and its 200-day simple moving average is $51.01. The company has a market cap of $1.83 billion, a PE ratio of 9.47 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued 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 return on equity of 13.55% and a net margin of 15.22%. As a group, equities research analysts expect that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Transactions at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp stock in a transaction dated Monday, November 11th. The stock was 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 trade represents a 7.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Neil Mackay sold 4,000 shares of the business's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares in the company, valued at $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock worth $5,425,815 in the last ninety days. Company insiders own 6.92% of the company's stock.

Hedge Funds Weigh In On Customers Bancorp

Several large investors have recently modified their holdings of CUBI. Intech Investment Management LLC grew its stake in Customers Bancorp by 74.2% in the 3rd quarter. Intech Investment Management LLC now owns 25,349 shares of the bank's stock valued at $1,177,000 after buying an additional 10,797 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Customers Bancorp by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank's stock valued at $1,878,000 after purchasing an additional 21,871 shares in the last quarter. Walleye Capital LLC raised its stake in shares of Customers Bancorp by 536.3% during the 3rd quarter. Walleye Capital LLC now owns 38,450 shares of the bank's stock valued at $1,786,000 after purchasing an additional 32,407 shares during the period. Assenagon Asset Management S.A. lifted its holdings 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. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Customers Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank's stock valued at $23,665,000 after buying an additional 12,000 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

About Customers Bancorp

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.