Brokerages Set Customers Bancorp, Inc. (NYSE:CUBI) Price Target at $61.50

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given an average rating of “Buy” by the eight ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $61.50.

CUBI has been the topic of several research analyst reports. Wedbush dropped their target price on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Raymond James upped their price target on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Hovde Group cut their target price on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. B. Riley lifted their price target on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Finally, Jefferies Financial Group increased their price objective on Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th.

Customers Bancorp Stock Up 0.7 %

NYSE CUBI opened at $47.88 on Monday. Customers Bancorp has a one year low of $16.41 and a one year high of $60.09. The company has a market capitalization of $1.51 billion, a P/E ratio of 6.69 and a beta of 1.67. The stock has a 50 day moving average price of $50.51 and a 200-day moving average price of $49.89. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping the consensus estimate of $1.63 by $0.05. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The company had revenue of $181.62 million during the quarter, compared to analyst estimates of $183.48 million. During the same period in the previous year, the firm earned $1.58 earnings per share. Customers Bancorp’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities analysts predict that Customers Bancorp will post 6.46 EPS for the current fiscal year.

Insider Buying and Selling

In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the transaction, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Glenn Hedde sold 666 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the sale, the insider now directly owns 69,428 shares in the company, valued at approximately $3,762,997.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the transaction, the chief financial officer now directly owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 6.92% of the stock is owned by corporate insiders.

Institutional Trading of Customers Bancorp

Several institutional investors have recently bought and sold shares of the business. Cornercap Investment Counsel Inc. purchased a new position in Customers Bancorp in the 4th quarter valued at about $1,254,000. Assenagon Asset Management S.A. increased its position in shares of Customers Bancorp by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock worth $10,554,000 after purchasing an additional 91,311 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Customers Bancorp in the 3rd quarter valued at $1,712,000. Numerai GP LLC purchased a new position in Customers Bancorp in the 3rd quarter valued at $363,000. Finally, American Century Companies Inc. boosted its stake in Customers Bancorp by 14.6% during the 3rd quarter. American Century Companies Inc. now owns 364,767 shares of the bank’s stock worth $12,566,000 after purchasing an additional 46,347 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.