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


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Shares of Customers Bancorp, Inc. (NYSE:CUBI) have earned a consensus rating of “Buy” from the seven ratings firms that are covering the company, MarketBeat reports. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $27.17.

A number of brokerages recently issued reports on CUBI. Zacks Investment Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $31.00 target price on the stock in a research report on Thursday, February 18th. Jefferies Financial Group started coverage on Customers Bancorp in a research report on Friday, December 4th. They set a “buy” rating and a $21.00 price target on the stock. B. Riley boosted their price target on Customers Bancorp from $26.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, February 16th. Finally, Wedbush started coverage on Customers Bancorp in a research report on Friday, January 15th. They set an “outperform” rating and a $30.00 price target on the stock.

Customers Bancorp stock traded up $0.47 during midday trading on Tuesday, reaching $27.85. The stock had a trading volume of 10,721 shares, compared to its average volume of 185,239. The firm’s fifty day simple moving average is $23.46 and its 200-day simple moving average is $16.82. Customers Bancorp has a 1-year low of $8.36 and a 1-year high of $27.57. The stock has a market capitalization of $880.09 million, a P/E ratio of 8.95 and a beta of 1.55. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.42 and a current ratio of 1.42.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Tuesday, January 26th. The bank reported $1.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.06. Customers Bancorp had a return on equity of 12.53% and a net margin of 17.45%. The business had revenue of $146.72 million for the quarter, compared to analyst estimates of $147.69 million. On average, sell-side analysts anticipate that Customers Bancorp will post 2.78 earnings per share for the current fiscal year.

In other Customers Bancorp news, COO Richard A. Ehst sold 7,500 shares of the company’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $26.85, for a total value of $201,375.00. Also, EVP Glenn Hedde sold 6,550 shares of the company’s stock in a transaction dated Thursday, December 3rd. The stock was sold at an average price of $18.00, for a total value of $117,900.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,588 shares of company stock valued at $416,760. Insiders own 9.71% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Customers Bancorp in the 4th quarter worth about $30,000. Lazard Asset Management LLC acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at about $30,000. BNP Paribas Arbitrage SA increased its stake in shares of Customers Bancorp by 296.4% in the third quarter. BNP Paribas Arbitrage SA now owns 7,298 shares of the bank’s stock valued at $82,000 after buying an additional 5,457 shares during the period. 6 Meridian acquired a new stake in shares of Customers Bancorp in the third quarter valued at about $120,000. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Customers Bancorp in the third quarter valued at about $150,000. 75.40% of the stock is owned by institutional investors and hedge funds.

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. It operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as non-retail time deposit.

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Analyst Recommendations for Customers Bancorp (NYSE:CUBI)

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