Customers Bancorp, Inc. (NYSE:CUBI) Receives $64.00 Average PT from Analysts

Customers Bancorp, Inc. (NYSE:CUBI) has received an average rating of “Moderate Buy” from the ten brokerages that are presently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $64.00.

A number of analysts have commented on the stock. Stephens reaffirmed an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. DA Davidson lifted their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Maxim Group upped their price target on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price objective on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research report on Monday, January 27th. Finally, StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 67,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the transaction, the chief executive officer now directly owns 965,723 shares of the company’s stock, valued at approximately $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Glenn Hedde sold 15,815 shares of the stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the transaction, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 115,988 shares of company stock worth $6,627,318 over the last 90 days. 6.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Customers Bancorp by 29.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,798 shares of the bank’s stock valued at $3,690,000 after acquiring an additional 17,182 shares in the last quarter. Voloridge Investment Management LLC grew its position in Customers Bancorp by 82.4% during the 4th quarter. Voloridge Investment Management LLC now owns 128,207 shares of the bank’s stock worth $6,241,000 after purchasing an additional 57,903 shares during the last quarter. Squarepoint Ops LLC increased its stake in Customers Bancorp by 15.0% during the 4th quarter. Squarepoint Ops LLC now owns 154,474 shares of the bank’s stock valued at $7,520,000 after purchasing an additional 20,122 shares in the last quarter. Twinbeech Capital LP raised its holdings in shares of Customers Bancorp by 1.4% in the fourth quarter. Twinbeech Capital LP now owns 75,363 shares of the bank’s stock worth $3,669,000 after buying an additional 1,052 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Customers Bancorp by 51.7% during the fourth quarter. Two Sigma Advisers LP now owns 13,200 shares of the bank’s stock worth $643,000 after buying an additional 4,500 shares during the period. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Down 3.3 %

NYSE CUBI opened at $50.17 on Thursday. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of 9.88 and a beta of 1.74. Customers Bancorp has a twelve month low of $42.31 and a twelve month high of $68.49. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock’s 50-day simple moving average is $53.59 and its two-hundred day simple moving average is $50.95.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Research analysts forecast that Customers Bancorp will post 6.45 EPS for the current fiscal year.

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.