Customers Bancorp, Inc (NYSE:CUBI) Receives $82.88 Average Target Price from Brokerages

Customers Bancorp, Inc (NYSE:CUBI) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, five have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $82.8750.

A number of brokerages have recently issued reports on CUBI. Zacks Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 28th. Stephens boosted their price target on Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. B. Riley restated a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. National Bankshares set a $89.00 price objective on Customers Bancorp in a research report on Wednesday, September 24th. Finally, Wall Street Zen upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th.

Customers Bancorp Trading Down 1.4%

Shares of NYSE:CUBI opened at $67.51 on Friday. The stock’s 50-day simple moving average is $66.56 and its two-hundred day simple moving average is $61.55. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 13.69 and a beta of 1.64. Customers Bancorp has a 52-week low of $40.75 and a 52-week high of $72.51. 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 (NYSE:CUBI) last issued its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. The firm had revenue of $206.82 million for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. 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 stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the completion of the sale, the director owned 7,524 shares in the company, valued at approximately $503,581.32. This represents a 54.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jay S. Sidhu sold 1,263 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $67.75, for a total value of $85,568.25. Following the sale, the chief executive officer directly owned 966,596 shares in the company, valued at approximately $65,486,879. This represents a 0.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 32,435 shares of company stock valued at $2,190,313. Corporate insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

Institutional investors have recently made changes to their positions in the business. CenterBook Partners LP lifted its holdings in Customers Bancorp by 77.1% in the 3rd quarter. CenterBook Partners LP now owns 27,789 shares of the bank’s stock worth $1,817,000 after purchasing an additional 12,101 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Customers Bancorp by 3.9% during the third quarter. Vanguard Group Inc. now owns 2,155,308 shares of the bank’s stock valued at $140,892,000 after buying an additional 81,200 shares during the last quarter. CENTRAL TRUST Co purchased a new position in shares of Customers Bancorp in the third quarter worth $131,000. Public Sector Pension Investment Board boosted its position in shares of Customers Bancorp by 11.2% during the third quarter. Public Sector Pension Investment Board now owns 133,689 shares of the bank’s stock worth $8,739,000 after acquiring an additional 13,464 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in Customers Bancorp by 5.7% during the third quarter. Illinois Municipal Retirement Fund now owns 16,058 shares of the bank’s stock valued at $1,050,000 after acquiring an additional 872 shares in the last quarter. Hedge funds and other institutional investors 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.