Customers Bancorp (NYSE:CUBI) Given New $55.00 Price Target at Stephens

Customers Bancorp (NYSE:CUBI - Free Report) had its target price boosted by Stephens from $53.00 to $55.00 in a research report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the bank's stock.

A number of other equities research analysts also recently issued reports on the company. StockNews.com downgraded Customers Bancorp from a "hold" rating to a "sell" rating in a research report on Monday, November 4th. B. Riley boosted their price target on Customers Bancorp from $78.00 to $80.00 and gave the company a "buy" rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an "outperform" rating to a "market perform" rating and reduced their price objective for the stock from $57.00 to $52.00 in a research note on Monday, November 4th. DA Davidson boosted their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a "buy" rating in a research report on Monday, July 29th. Finally, Wedbush lowered shares of Customers Bancorp from an "outperform" rating to a "neutral" rating and reduced their price target for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $61.11.

Customers Bancorp Stock Performance

CUBI traded up $3.60 on Monday, reaching $56.55. The company had a trading volume of 698,580 shares, compared to its average volume of 371,372. Customers Bancorp has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The stock has a market cap of $1.79 billion, a P/E ratio of 8.93 and a beta of 1.61. The company's fifty day moving average is $47.22 and its 200 day moving average is $49.00. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share 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 firm had revenue of $167.10 million for the quarter, compared to analyst estimates of $191.61 million. During the same period in the previous year, the business posted $2.59 earnings per share. The business's revenue for the quarter was down 23.2% on a year-over-year basis. As a group, analysts predict that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Samvir S. Sidhu purchased 2,500 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $45.53 per share, with a total value of $113,825.00. Following the completion of the purchase, the chief executive officer now owns 144,504 shares of the company's stock, valued at $6,579,267.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Glenn Hedde sold 5,002 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now directly owns 66,256 shares of the company's stock, valued at $3,556,622.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Samvir S. Sidhu purchased 2,500 shares of Customers Bancorp stock in a transaction on Tuesday, August 13th. The stock was bought at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 6.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its position in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank's stock worth $102,000 after purchasing an additional 274 shares during the period. GAMMA Investing LLC grew its holdings in Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank's stock worth $73,000 after acquiring an additional 282 shares during the period. Louisiana State Employees Retirement System grew its holdings in Customers Bancorp by 2.1% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank's stock worth $686,000 after acquiring an additional 300 shares during the period. SummerHaven Investment Management LLC raised its position in shares of Customers Bancorp by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank's stock worth $994,000 after acquiring an additional 341 shares in the last quarter. Finally, Texas Permanent School Fund Corp lifted its stake in shares of Customers Bancorp by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank's stock valued at $1,314,000 after purchasing an additional 353 shares during the period. 89.29% of the stock is 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.