Analysts Set Customers Bancorp, Inc. (NYSE:CUBI) PT at $62.00

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $62.00.

Several equities research analysts have issued reports on the company. Jefferies Financial Group dropped their target price on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, July 3rd. B. Riley increased their target price on Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Raymond James dropped their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday. Keefe, Bruyette & Woods dropped their price objective on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Friday, August 9th.

Insiders Place Their Bets

In other news, CEO Samvir S. Sidhu purchased 2,500 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was purchased at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the purchase, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds have recently added to or reduced their stakes in CUBI. Ridgewood Investments LLC purchased a new position in shares of Customers Bancorp in the second quarter worth about $48,000. Innealta Capital LLC purchased a new position in Customers Bancorp during the 2nd quarter valued at about $74,000. Ashton Thomas Private Wealth LLC purchased a new position in Customers Bancorp during the 2nd quarter valued at about $151,000. Capstone Investment Advisors LLC purchased a new position in Customers Bancorp during the 1st quarter valued at about $220,000. Finally, SG Americas Securities LLC purchased a new position in Customers Bancorp during the 3rd quarter valued at about $244,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $45.34 on Thursday. The stock has a fifty day simple moving average of $49.63 and a two-hundred day simple moving average of $49.63. Customers Bancorp has a 1-year low of $31.16 and a 1-year high of $68.49. The firm has a market cap of $1.43 billion, a price-to-earnings ratio of 6.33 and a beta of 1.61. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The business’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.65 earnings per share. Analysts anticipate that Customers Bancorp will post 6.34 earnings per share for the current year.

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.