Raymond James Lowers Customers Bancorp (NYSE:CUBI) Price Target to $70.00

Customers Bancorp (NYSE:CUBI) had its price target decreased by investment analysts at Raymond James from $80.00 to $70.00 in a report released on Wednesday, Benzinga reports. The firm presently has a “strong-buy” rating on the bank’s stock. Raymond James’ target price indicates a potential upside of 58.26% from the stock’s current price.

Several other equities research analysts have also recently weighed in on CUBI. Jefferies Financial Group reduced their target price on shares of Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. DA Davidson increased their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research report on Friday, August 9th. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Finally, B. Riley increased their price target on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.00.

Customers Bancorp Stock Down 0.3 %

NYSE:CUBI traded down $0.12 during trading hours on Wednesday, reaching $44.23. The company’s stock had a trading volume of 84,653 shares, compared to its average volume of 363,414. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 6.16 and a beta of 1.62. Customers Bancorp has a one year low of $31.16 and a one year high of $68.49. The business’s 50-day moving average is $51.15 and its 200-day moving average is $49.77. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The firm had revenue of $198.69 million during the quarter, compared to analysts’ expectations of $184.40 million. During the same period in the prior year, the company posted $1.65 earnings per share. Customers Bancorp’s revenue for the quarter was up 3.9% on a year-over-year basis. Equities research analysts predict that Customers Bancorp will post 6.34 EPS for the current year.

Insider Buying and Selling

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

Institutional Trading of Customers Bancorp

Institutional investors and hedge funds have recently made changes to their positions in the company. Wedge Capital Management L L P NC bought a new stake in shares of Customers Bancorp during the 2nd quarter worth approximately $2,508,000. Hillsdale Investment Management Inc. acquired a new position in Customers Bancorp during the 1st quarter worth approximately $4,266,000. Intech Investment Management LLC acquired a new position in Customers Bancorp during the 2nd quarter worth approximately $698,000. SG Americas Securities LLC increased its position in Customers Bancorp by 208.5% during the 1st quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock worth $1,148,000 after purchasing an additional 14,621 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Customers Bancorp during the 1st quarter worth approximately $1,333,000. 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.