By otakuyassine3@gmail.com 
Customers Bancorp (NYSE:CUBI – Get Free Report) had its target price raised by equities researchers at Maxim Group from $75.00 to $80.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. Maxim Group’s price objective indicates a potential upside of 37.17% from the stock’s current price.
Several other analysts also recently commented on the stock. B. Riley increased their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. DA Davidson lifted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler lowered their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Finally, Raymond James reduced their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $64.00.
Check Out Our Latest Analysis on CUBI
Customers Bancorp Stock Performance
Shares of NYSE CUBI traded up $0.97 during mid-day trading on Monday, hitting $58.32. The company had a trading volume of 629,266 shares, compared to its average volume of 391,589. The stock’s 50-day moving average price is $51.41 and its 200-day moving average price is $51.01. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.47 and a beta of 1.68. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. Customers Bancorp has a 1 year low of $42.31 and a 1 year high of $68.49.
Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its earnings results on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. On average, sell-side analysts forecast that Customers Bancorp will post 5.63 earnings per share for the current year.
Insider Transactions at Customers Bancorp
In related news, CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the completion of the transaction, the chief executive officer now directly owns 1,090,598 shares in the company, valued at $61,662,410.92. This represents a 7.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Neil Mackay sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares in the company, valued at $245,613.26. The trade was a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,440 shares of company stock valued at $5,425,815 over the last three months. 6.92% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Customers Bancorp
A number of institutional investors have recently made changes to their positions in CUBI. Basswood Capital Management L.L.C. bought a new position in Customers Bancorp in the 3rd quarter valued at $26,000. R Squared Ltd acquired a new position in shares of Customers Bancorp during the fourth quarter worth approximately $42,000. GAMMA Investing LLC grew its stake in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after purchasing an additional 282 shares during the last quarter. KBC Group NV increased its holdings in shares of Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares in the last quarter. Finally, Quest Partners LLC lifted its holdings in Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after buying an additional 962 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.
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.
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