Brokerages Set Customers Bancorp, Inc (NYSE:CUBI) Price Target at $82.88

Customers Bancorp, Inc (NYSE:CUBI) has earned an average rating of “Moderate Buy” from the ten ratings firms that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $82.8750.

CUBI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods raised their price objective on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Wall Street Zen upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating in a research report on Saturday, November 15th. B. Riley restated a “buy” rating on shares of Customers Bancorp in a research note on Monday, October 27th. DA Davidson increased their price target on Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, October 27th. Finally, Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 28th.

Customers Bancorp Price Performance

NYSE:CUBI opened at $71.04 on Tuesday. The firm’s fifty day moving average is $66.51 and its two-hundred day moving average is $63.25. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 14.41 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. Customers Bancorp has a one year low of $40.75 and a one year high of $72.83.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. The business had revenue of $206.82 million during the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%. Research analysts expect that Customers Bancorp will post 6.45 EPS for the current year.

Insiders Place Their Bets

In other Customers Bancorp news, Director Bernard Bennett Banks sold 9,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $66.93, for a total transaction of $602,370.00. Following the transaction, the director directly owned 7,524 shares of the company’s stock, valued at $503,581.32. This trade represents a 54.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Philip Watkins sold 2,900 shares of the company’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $65.04, for a total transaction of $188,616.00. Following the transaction, the executive vice president owned 50,849 shares of the company’s stock, valued at approximately $3,307,218.96. This trade represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 211,900 shares of company stock worth $14,595,664. Company insiders own 8.69% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Customers Bancorp by 34.3% during the 1st quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after purchasing an additional 902,406 shares during the last quarter. Vanguard Group Inc. boosted its position in Customers Bancorp by 3.9% during the third quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank’s stock worth $140,892,000 after acquiring an additional 81,200 shares during the last quarter. Hood River Capital Management LLC grew its stake in Customers Bancorp by 1.6% during the 2nd quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank’s stock valued at $89,462,000 after acquiring an additional 23,416 shares in the last quarter. American Century Companies Inc. raised its holdings in Customers Bancorp by 7.9% in the 3rd quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock valued at $61,829,000 after acquiring an additional 69,200 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Customers Bancorp by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 695,204 shares of the bank’s stock worth $40,841,000 after purchasing an additional 2,494 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.