Customers Bancorp (NYSE:CUBI) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Customers Bancorp (NYSE:CUBIGet Free Report) had its price target boosted by equities researchers at Keefe, Bruyette & Woods from $62.00 to $67.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 17.56% from the company’s previous close.

CUBI has been the topic of several other research reports. Piper Sandler lowered their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. B. Riley raised their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th. Stephens reissued an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Finally, Raymond James cut their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 2nd. Six equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $64.00.

View Our Latest Stock Analysis on CUBI

Customers Bancorp Stock Performance

CUBI opened at $56.99 on Monday. 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 stock has a market cap of $1.79 billion, a price-to-earnings ratio of 9.25 and a beta of 1.68. Customers Bancorp has a 12-month low of $42.31 and a 12-month high of $68.49. The business has a 50 day moving average of $51.56 and a 200-day moving average of $51.03.

Customers Bancorp (NYSE:CUBIGet Free Report) last released 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 net margin of 15.22% and a return on equity of 13.55%. On average, equities research analysts expect that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Activity at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 86,578 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the sale, the chief executive officer now directly owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,440 shares of company stock valued at $5,425,815. 6.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its position in shares of Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after purchasing an additional 225,785 shares in the last quarter. State Street Corp grew its position in shares of Customers Bancorp by 10.5% during the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after buying an additional 169,982 shares during the period. Wolverine Asset Management LLC bought a new stake in shares of Customers Bancorp in the 3rd quarter valued at $3,470,000. Sei Investments Co. lifted its position in shares of Customers Bancorp by 53.1% during the 2nd quarter. Sei Investments Co. now owns 132,048 shares of the bank’s stock valued at $6,336,000 after acquiring an additional 45,818 shares during the period. Finally, Walleye Capital LLC grew its holdings in Customers Bancorp by 536.3% in the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock worth $1,786,000 after purchasing an additional 32,407 shares during the period. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

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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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Analyst Recommendations for Customers Bancorp (NYSE:CUBI)

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