Customers Bancorp (NYSE:CUBI – Free Report) had its price objective hoisted by DA Davidson from $68.00 to $71.00 in a report released on Monday morning,Benzinga reports. DA Davidson currently has a buy rating on the bank’s stock.
Several other equities analysts have also weighed in on CUBI. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Keefe, Bruyette & Woods raised their target price on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a report on Monday. Piper Sandler decreased their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Raymond James cut their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Finally, B. Riley lifted their target price on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $64.00.
Read Our Latest Stock Analysis on CUBI
Customers Bancorp Price Performance
Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. Equities research analysts anticipate that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.
Insider Transactions at Customers Bancorp
In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total value of $47,067.80. Following the sale, 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 0.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,440 shares of company stock valued at $5,425,815 over the last quarter. Company insiders own 6.92% of the company’s stock.
Institutional Investors Weigh In On Customers Bancorp
A number of large investors have recently added to or reduced their stakes in CUBI. CWM LLC increased its position in 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 acquiring an additional 274 shares during the period. GAMMA Investing LLC raised its position in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after buying an additional 282 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Customers Bancorp by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock valued at $272,000 after buying an additional 333 shares during the period. Mackenzie Financial Corp grew its position in Customers Bancorp by 10.4% during the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock worth $281,000 after buying an additional 549 shares in the last quarter. Finally, Basswood Capital Management L.L.C. bought a new position in Customers Bancorp during the third quarter valued at about $26,000. Institutional investors own 89.29% of the company’s stock.
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.
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