Brokerages Set Customers Bancorp, Inc. (NYSE:CUBI) PT at $65.50

Customers Bancorp, Inc. (NYSE:CUBI) has received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $65.50.

Several brokerages have recently issued reports on CUBI. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research note on Friday, August 9th. Wedbush lifted their price objective on shares of Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Jefferies Financial Group cut their price objective on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. Keefe, Bruyette & Woods reduced their target price on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, DA Davidson upped their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the purchase, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. raised its position in shares of Customers Bancorp by 9.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 407,920 shares of the bank’s stock worth $23,504,000 after purchasing an additional 35,230 shares during the last quarter. Versor Investments LP acquired a new position in shares of Customers Bancorp during the fourth quarter valued at approximately $236,000. Teacher Retirement System of Texas purchased a new position in shares of Customers Bancorp in the fourth quarter valued at approximately $862,000. Dimensional Fund Advisors LP boosted its stake in shares of Customers Bancorp by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,153,952 shares of the bank’s stock worth $124,114,000 after acquiring an additional 40,134 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in shares of Customers Bancorp by 6.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 31,566 shares of the bank’s stock worth $1,819,000 after purchasing an additional 1,869 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Down 0.9 %

NYSE:CUBI opened at $48.63 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. Customers Bancorp has a twelve month low of $31.16 and a twelve month high of $68.49. The company has a market cap of $1.53 billion, a PE ratio of 6.79 and a beta of 1.62. The company’s 50 day moving average is $53.46 and its two-hundred day moving average is $50.37.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.65 earnings per share. Analysts anticipate that Customers Bancorp will post 6.34 EPS for the current 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.