Customers Bancorp, Inc. (NYSE:CUBI) Given Average Rating of “Buy” by Analysts

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been assigned a consensus rating of “Buy” from the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $61.86.

CUBI has been the subject of several research analyst reports. B. Riley increased their price objective on Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a research report on Monday, January 29th. Raymond James lifted their price target on Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, January 29th. Jefferies Financial Group lifted their price target on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Finally, Wedbush cut their price target on Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, January 26th.

Customers Bancorp Trading Up 0.2 %

NYSE:CUBI opened at $46.45 on Thursday. The stock has a fifty day moving average price of $51.91 and a two-hundred day moving average price of $48.33. The stock has a market capitalization of $1.46 billion, a price-to-earnings ratio of 6.35 and a beta of 1.67. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a 1 year low of $15.80 and a 1 year high of $60.09.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14. The firm had revenue of $191.18 million during the quarter, compared to analysts’ expectations of $187.87 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. As a group, sell-side analysts anticipate that Customers Bancorp will post 6.85 earnings per share for the current fiscal year.

Insider Activity at Customers Bancorp

In related news, CFO Carla A. Leibold sold 35,832 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares of the company’s stock, valued at approximately $2,191,055.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Glenn Hedde sold 666 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following the completion of the transaction, the insider now owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Carla A. Leibold sold 35,832 shares of Customers Bancorp stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares of the company’s stock, 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 corporate insiders.

Institutional Trading of Customers Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CUBI. State Street Corp grew its holdings in Customers Bancorp by 56.3% in the 1st quarter. State Street Corp now owns 2,282,972 shares of the bank’s stock valued at $119,034,000 after buying an additional 822,072 shares during the period. Wellington Management Group LLP grew its holdings in Customers Bancorp by 28.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,132,205 shares of the bank’s stock valued at $73,454,000 after buying an additional 475,907 shares during the period. Millennium Management LLC grew its holdings in Customers Bancorp by 722.1% in the 4th quarter. Millennium Management LLC now owns 380,320 shares of the bank’s stock valued at $10,778,000 after buying an additional 334,057 shares during the period. JPMorgan Chase & Co. grew its holdings in Customers Bancorp by 37.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,067,489 shares of the bank’s stock valued at $36,775,000 after buying an additional 288,975 shares during the period. Finally, Access Investment Management LLC purchased a new stake in Customers Bancorp in the 4th quarter valued at about $16,194,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.