Customers Bancorp (NYSE:CUBI) Given New $67.00 Price Target at Keefe, Bruyette & Woods

Customers Bancorp (NYSE:CUBI) had its price objective raised by Keefe, Bruyette & Woods from $62.00 to $67.00 in a report issued on Monday morning,Benzinga reports. The firm currently has a market perform rating on the bank’s stock.

CUBI has been the subject of a number of other reports. B. Riley boosted their price objective on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Raymond James reduced their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 2nd. Piper Sandler reduced their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Stephens restated an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a research note on Friday. Finally, StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Six analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $58.32 on Monday. Customers Bancorp has a twelve month low of $42.31 and a twelve month high of $68.49. The stock’s 50 day moving average is $51.49 and its 200-day moving average is $51.03. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $1.83 billion, a price-to-earnings ratio of 9.47 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. Sell-side analysts forecast that Customers Bancorp will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert Neil Mackay sold 4,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the sale, the director now directly owns 4,567 shares of the company’s stock, valued at $245,613.26. This trade represents a 46.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the sale, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,440 shares of company stock valued at $5,425,815. Company insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

A number of hedge funds have recently bought and sold shares of CUBI. Basswood Capital Management L.L.C. bought a new stake in Customers Bancorp in the third quarter worth $26,000. R Squared Ltd purchased a new stake in Customers Bancorp during the 4th quarter valued at $42,000. GAMMA Investing LLC boosted its holdings 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 worth $73,000 after purchasing an additional 282 shares during the period. KBC Group NV grew its position in shares of Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock worth $73,000 after buying an additional 677 shares during the last quarter. Finally, Quest Partners LLC increased its stake in shares of Customers Bancorp by 143.4% during the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after buying an additional 962 shares during the period. 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.