Brokerages Set Customers Bancorp, Inc. (NYSE:CUBI) Target Price at $62.00

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have received a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two 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. The average 1 year price objective among brokerages that have covered the stock in the last year is $64.14.

A number of equities research analysts recently weighed in on the stock. Keefe, Bruyette & Woods dropped their price target on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. DA Davidson increased their target price on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research note on Friday, August 9th. Raymond James reduced their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Finally, Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $45.68 on Monday. The stock’s fifty day moving average is $47.26 and its 200-day moving average is $48.92. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a 52 week low of $40.46 and a 52 week high of $68.49. The stock has a market capitalization of $1.45 billion, a PE ratio of 7.42 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data 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 net margin of 15.22% and a return on equity of 13.79%. The company had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the previous year, the business posted $2.59 EPS. The company’s revenue was down 23.2% compared to the same quarter last year. Equities research analysts expect that Customers Bancorp will post 6.11 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,500 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

Several institutional investors and hedge funds have recently bought and sold shares of CUBI. Ridgewood Investments LLC bought a new stake in shares of Customers Bancorp during the 2nd quarter worth approximately $48,000. GAMMA Investing LLC lifted its stake in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Customers Bancorp in the 2nd quarter valued at about $74,000. CWM LLC raised its holdings in shares of Customers Bancorp by 14.2% in the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in Customers Bancorp during the second quarter worth about $151,000. 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.