Analysts Set Customers Bancorp, Inc. (NYSE:CUBI) PT at $64.00

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been assigned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $64.00.

CUBI has been the topic of several research analyst reports. Keefe, Bruyette & Woods upped their target price on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. DA Davidson upped their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. B. Riley upped their target price on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Maxim Group upped their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Finally, Piper Sandler cut their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th.

Customers Bancorp Trading Down 1.6 %

NYSE CUBI opened at $57.24 on Wednesday. The business’s 50-day moving average price is $51.71 and its two-hundred day moving average price is $50.98. Customers Bancorp has a 12 month low of $42.31 and a 12 month high of $68.49. The firm has a market capitalization of $1.79 billion, a PE ratio of 11.27 and a beta of 1.68. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. On average, analysts expect that Customers Bancorp will post 6.33 EPS for the current year.

Insider Buying and Selling

In other news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now directly owns 965,723 shares of the company’s stock, valued at $54,872,380.86. This represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the sale, the insider now directly owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 206,566 shares of company stock valued at $11,737,558. 6.92% of the stock is owned by company insiders.

Institutional Trading of Customers Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp raised its stake in shares of Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after purchasing an additional 169,982 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Customers Bancorp by 2.7% during the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after acquiring an additional 17,941 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Customers Bancorp by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock valued at $23,665,000 after acquiring an additional 12,000 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after acquiring an additional 225,785 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Customers Bancorp by 46.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 285,368 shares of the bank’s stock valued at $13,621,000 after acquiring an additional 90,451 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

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.