Keefe, Bruyette & Woods Cuts Customers Bancorp (NYSE:CUBI) Price Target to $65.00

Customers Bancorp (NYSE:CUBI) had its target price trimmed by Keefe, Bruyette & Woods from $67.00 to $65.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the bank’s stock.

CUBI has been the topic of a number of other research reports. DA Davidson increased their target price on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 27th. Stephens reissued an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. Finally, Maxim Group increased their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 27th. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and a consensus target price of $63.80.

Customers Bancorp Trading Down 1.3 %

Shares of NYSE:CUBI opened at $50.02 on Monday. The company has a market cap of $1.57 billion, a P/E ratio of 9.85 and a beta of 1.47. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. Customers Bancorp has a 1 year low of $40.75 and a 1 year high of $68.49. The stock’s fifty day moving average price is $48.99 and its 200-day moving average price is $50.92.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.26. The firm had revenue of $194.28 million for the quarter, compared to the consensus estimate of $165.24 million. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. During the same period in the prior year, the company posted $1.68 earnings per share. Sell-side analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 67,000 shares of the stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the completion of the sale, the chief executive officer now owns 965,723 shares in the company, valued at approximately $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.92% of the stock is currently owned by company insiders.

Institutional Trading of Customers Bancorp

A number of large investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of Customers Bancorp in the fourth quarter valued at $1,277,000. Barclays PLC increased its position in Customers Bancorp by 46.9% in the third quarter. Barclays PLC now owns 89,879 shares of the bank’s stock worth $4,175,000 after purchasing an additional 28,683 shares during the last quarter. Swiss National Bank increased its position in Customers Bancorp by 1.0% in the fourth quarter. Swiss National Bank now owns 59,200 shares of the bank’s stock worth $2,882,000 after purchasing an additional 600 shares during the last quarter. Amundi increased its position in Customers Bancorp by 171.7% in the fourth quarter. Amundi now owns 14,246 shares of the bank’s stock worth $671,000 after purchasing an additional 9,003 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Customers Bancorp by 323.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after purchasing an additional 1,255 shares during the last quarter. 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.