Customers Bancorp (NYSE:CUBI) received a $30.00 price target from investment analysts at B. Riley in a research note issued to investors on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the bank’s stock. B. Riley’s price objective would suggest a potential upside of 44.93% from the stock’s current price. B. Riley also issued estimates for Customers Bancorp’s Q3 2019 earnings at $0.71 EPS and Q4 2019 earnings at $0.63 EPS.
A number of other research analysts have also issued reports on CUBI. ValuEngine upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 16th. Boenning Scattergood reiterated a “buy” rating on shares of Customers Bancorp in a research note on Friday, January 25th. Finally, TheStreet upgraded shares of Customers Bancorp from a “c+” rating to a “b-” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $29.95.
Shares of CUBI opened at $20.70 on Tuesday. Customers Bancorp has a 12 month low of $16.72 and a 12 month high of $32.34. The firm has a market cap of $650.64 million, a PE ratio of 8.52, a price-to-earnings-growth ratio of 0.93 and a beta of 0.94. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.49.
In other Customers Bancorp news, VP Steven Issa sold 6,926 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $20.48, for a total value of $141,844.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Glenn Hedde sold 1,276 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $21.65, for a total transaction of $27,625.40. The disclosure for this sale can be found here. Insiders sold a total of 16,004 shares of company stock worth $337,759 over the last quarter. 9.54% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Eqis Capital Management Inc. grew its position in Customers Bancorp by 1.5% in the 1st quarter. Eqis Capital Management Inc. now owns 31,762 shares of the bank’s stock worth $582,000 after purchasing an additional 482 shares during the last quarter. Texas Permanent School Fund grew its position in Customers Bancorp by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 19,067 shares of the bank’s stock worth $347,000 after purchasing an additional 734 shares during the last quarter. ClariVest Asset Management LLC grew its position in Customers Bancorp by 0.9% in the 4th quarter. ClariVest Asset Management LLC now owns 106,300 shares of the bank’s stock worth $1,934,000 after purchasing an additional 900 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Customers Bancorp by 116.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,726 shares of the bank’s stock worth $31,000 after purchasing an additional 928 shares during the last quarter. Finally, Strs Ohio grew its position in Customers Bancorp by 2.8% in the 1st quarter. Strs Ohio now owns 36,400 shares of the bank’s stock worth $666,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 79.58% of the company’s stock.
Customers Bancorp Company Profile
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.
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