Customers Bancorp (NYSE:CUBI) Price Target Raised to $55.00

Customers Bancorp (NYSE:CUBI) had its price target upped by Stephens from $53.00 to $55.00 in a research note published on Monday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other equities analysts have also issued research reports about the company. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target on the stock. in a research note on Friday, August 9th. DA Davidson lifted their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $57.00 to $52.00 in a report on Monday, November 4th. Finally, Raymond James cut their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp presently has an average rating of “Hold” and an average target price of $61.11.

Customers Bancorp Stock Down 0.1 %

Shares of NYSE CUBI opened at $56.44 on Monday. Customers Bancorp has a 12-month low of $42.31 and a 12-month high of $68.49. The firm’s 50-day simple moving average is $47.58 and its 200 day simple moving average is $49.17. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 9.16 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same period last year, the company earned $2.59 earnings per share. Customers Bancorp’s revenue for the quarter was down 23.2% compared to the same quarter last year. On average, research analysts expect that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the completion of the transaction, the chief executive officer now directly owns 1,189,738 shares of the company’s stock, valued at approximately $65,114,360.74. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the sale, the insider now owns 66,256 shares of the company’s stock, valued at $3,556,622.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jay S. Sidhu sold 860 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total transaction of $47,067.80. Following the completion of the sale, the chief executive officer now directly owns 1,189,738 shares in the company, valued at $65,114,360.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,440 shares of company stock valued at $5,210,695. 6.92% of the stock is owned by company insiders.

Institutional Trading of Customers Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC grew its holdings in shares of Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after buying an additional 274 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares in the last quarter. Louisiana State Employees Retirement System raised its holdings in shares of Customers Bancorp by 2.1% in the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock valued at $686,000 after purchasing an additional 300 shares during the last quarter. SummerHaven Investment Management LLC lifted its position in shares of Customers Bancorp by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock worth $994,000 after purchasing an additional 341 shares in the last quarter. Finally, Texas Permanent School Fund Corp boosted its holdings in Customers Bancorp by 1.4% during the first quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock worth $1,314,000 after purchasing an additional 353 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.