Customers Bancorp, Inc. (NYSE:CUBI) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given a consensus recommendation of “Moderate Buy” by the nine research firms that are covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $61.11.

A number of equities analysts have issued reports on the company. Keefe, Bruyette & Woods cut Customers Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $57.00 to $52.00 in a report on Monday, November 4th. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Friday, August 9th. Wedbush downgraded 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. Raymond James lowered 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 report on Wednesday, October 2nd. Finally, B. Riley increased their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total transaction of $47,067.80. Following the completion of the sale, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at $65,114,360.74. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 5,002 shares of Customers Bancorp 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 transaction, the insider now directly owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,440 shares of company stock worth $5,425,815. Insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

A number of hedge funds have recently modified their holdings of CUBI. CWM LLC raised its holdings in 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 acquiring an additional 274 shares during the period. GAMMA Investing LLC lifted 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 purchasing an additional 282 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in Customers Bancorp by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock valued at $686,000 after purchasing an additional 300 shares during the period. SummerHaven Investment Management LLC grew its holdings in Customers Bancorp by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after buying an additional 341 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Customers Bancorp by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock worth $306,000 after buying an additional 398 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Trading Up 0.5 %

NYSE:CUBI opened at $56.84 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The business’s 50-day simple moving average is $48.98 and its 200-day simple moving average is $49.72. Customers Bancorp has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The stock has a market capitalization of $1.78 billion, a PE ratio of 9.23 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same period in the previous year, the firm posted $2.59 EPS. The business’s quarterly revenue was down 23.2% compared to the same quarter last year. Sell-side analysts expect that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

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.