B. Riley Financial Issues Positive Forecast for Customers Bancorp (NYSE:CUBI) Stock Price

Customers Bancorp (NYSE:CUBI) had its price target increased by research analysts at B. Riley Financial from $104.00 to $110.00 in a research report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. B. Riley Financial‘s price objective would indicate a potential upside of 29.37% from the stock’s current price.

Other research analysts have also issued reports about the stock. Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. Morgan Stanley reaffirmed an “underweight” rating and issued a $97.00 target price on shares of Customers Bancorp in a research report on Monday, October 26th. DA Davidson set a $107.00 target price on shares of Customers Bancorp in a research note on Monday, October 26th. Weiss Ratings upgraded shares of Customers Bancorp from a “buy (b)” rating to a “buy (b+)” rating in a research report on Wednesday, November 4th. Finally, TD Cowen boosted their price target on shares of Customers Bancorp from $91.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.67.

Customers Bancorp Trading Down 0.3%

Shares of CUBI traded down $0.22 during mid-day trading on Thursday, hitting $85.03. 7,578 shares of the company’s stock traded hands, compared to its average volume of 336,086. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $2.84 billion, a P/E ratio of 10.33 and a beta of 1.43. The business’s 50-day moving average price is $79.11 and its 200-day moving average price is $76.20. Customers Bancorp has a 1 year low of $63.44 and a 1 year high of $89.60.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 22nd. The bank reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.13. Customers Bancorp had a return on equity of 13.73% and a net margin of 19.11%. The company had revenue of $240.24 million during the quarter, compared to analyst estimates of $237.18 million. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, sell-side analysts forecast that Customers Bancorp will post 8.55 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Chairman Jay Sidhu sold 50,000 shares of the business’s stock in a transaction on Thursday, October 29th. The shares were sold at an average price of $87.40, for a total transaction of $4,370,000.00. Following the sale, the chairman owned 617,864 shares in the company, valued at approximately $54,001,313.60. The trade was a 7.49% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Philip Watkins sold 5,500 shares of the company’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $86.17, for a total transaction of $473,935.00. Following the completion of the sale, the executive vice president directly owned 41,102 shares in the company, valued at $3,541,759.34. This represents a 11.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 105,019 shares of company stock valued at $8,998,514 over the last ninety days. Company insiders own 10.45% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in Customers Bancorp during the second quarter worth about $40,000. Bessemer Group Inc. increased its stake in shares of Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after purchasing an additional 232 shares in the last quarter. Versant Capital Management Inc lifted its holdings in shares of Customers Bancorp by 41.0% during the second quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after purchasing an additional 163 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of Customers Bancorp in the 2nd quarter worth approximately $71,000. Finally, State of Wyoming purchased a new stake in shares of Customers Bancorp in the 2nd quarter worth approximately $130,000. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc. is a bank holding company and the parent of Customers Bank, a commercial bank headquartered in West Reading, Pennsylvania. Founded in 2009, the company provides banking services to businesses, professionals and individuals. Customers Bank offers commercial and consumer deposit accounts, payment and cash-management services, and lending. Its business lending includes financing for commercial real estate, equipment, healthcare, and small businesses, along with banking services for venture-backed companies.