Customers Bancorp (NYSE:CUBI) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Customers Bancorp (NYSE:CUBI) from a hold rating to a buy rating in a research note published on Saturday morning.

CUBI has been the topic of several other reports. B. Riley reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. National Bankshares set a $89.00 price target on Customers Bancorp in a report on Wednesday, September 24th. DA Davidson boosted their price objective on Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Keefe, Bruyette & Woods increased their target price on Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Monday, October 27th. Finally, Hovde Group raised their target price on Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.88.

Customers Bancorp Stock Down 3.5%

CUBI opened at $64.43 on Friday. The firm’s 50-day simple moving average is $66.32 and its 200-day simple moving average is $62.01. 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 twelve month low of $40.75 and a twelve month high of $72.51. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 13.07 and a beta of 1.64.

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

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 2,522 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $68.39, for a total transaction of $172,479.58. Following the completion of the sale, the chief executive officer owned 925,695 shares in the company, valued at $63,308,281.05. The trade was a 0.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Bernard Bennett Banks sold 9,000 shares of the company’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $66.93, for a total value of $602,370.00. Following the transaction, the director directly owned 7,524 shares in the company, valued at $503,581.32. This trade represents a 54.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 73,336 shares of company stock valued at $4,983,184 over the last three months. Insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wellington Management Group LLP raised its stake in shares of Customers Bancorp by 34.3% during the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock worth $177,349,000 after buying an additional 902,406 shares during the last quarter. Nuveen LLC acquired a new stake in Customers Bancorp during the 1st quarter worth $26,652,000. Anatole Investment Management Ltd bought a new stake in shares of Customers Bancorp during the 2nd quarter valued at $17,593,000. Millennium Management LLC raised its position in shares of Customers Bancorp by 448.8% during the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock valued at $21,427,000 after acquiring an additional 268,056 shares during the last quarter. Finally, Emerald Advisers LLC acquired a new position in shares of Customers Bancorp in the 3rd quarter valued at $15,150,000. 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.