Customers Bancorp, Inc. (NYSE:CUBI) Receives $61.86 Average PT from Brokerages

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been assigned an average recommendation of “Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $61.86.

A number of equities analysts have weighed in on the stock. B. Riley lifted their price target on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a report on Monday, January 29th. Wedbush decreased their price target on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, January 26th. Jefferies Financial Group lifted their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Raymond James lifted their target price on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, January 29th.

Insider Buying and Selling

In related news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total transaction of $36,097.20. Following the sale, the insider now owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total transaction of $36,097.20. Following the sale, the insider now owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the sale, the chief financial officer now directly owns 41,224 shares in the company, valued at approximately $2,191,055.60. The disclosure for this sale can be found here. 9.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the stock. BluePath Capital Management LLC bought a new stake in shares of Customers Bancorp in the 3rd quarter worth about $31,000. Gyon Technologies Capital Management LP bought a new stake in shares of Customers Bancorp during the 4th quarter valued at about $38,000. GAMMA Investing LLC bought a new stake in shares of Customers Bancorp during the 4th quarter valued at about $78,000. Coppell Advisory Solutions LLC bought a new stake in shares of Customers Bancorp during the 2nd quarter valued at about $56,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Customers Bancorp by 129.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after buying an additional 1,253 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Down 4.9 %

Shares of CUBI opened at $46.62 on Thursday. The firm has a market cap of $1.47 billion, a PE ratio of 6.38 and a beta of 1.67. The company’s fifty day moving average is $52.07 and its two-hundred day moving average is $48.26. Customers Bancorp has a fifty-two week low of $15.80 and a fifty-two week high of $60.09. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.92.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, January 25th. The bank reported $1.90 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.14. The company had revenue of $191.18 million for the quarter, compared to analyst estimates of $187.87 million. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. Analysts forecast that Customers Bancorp will post 6.87 earnings per share for the current year.

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.