Customers Bancorp, Inc. (NYSE:CUBI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat.com reports. Five investment 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. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $64.00.

CUBI has been the topic of a number of recent research reports. Stephens reiterated an “equal weight” rating and issued a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson boosted their price target on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 27th. Maxim Group increased their price target on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods lifted their price target on shares of Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Finally, StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st.

Insider Activity at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 67,000 shares of the company’s stock in a transaction on 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 directly owns 965,723 shares in the company, valued at approximately $54,872,380.86. This represents a 6.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $58.25, for a total value of $921,223.75. Following the completion of the transaction, the insider now directly owns 55,211 shares of the company’s stock, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,988 shares of company stock worth $6,627,318. Corporate insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors have recently modified their holdings of the business. Intech Investment Management LLC lifted its stake in Customers Bancorp by 74.2% in the 3rd quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock valued at $1,177,000 after purchasing an additional 10,797 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Customers Bancorp in the 4th quarter valued at $1,277,000. BNP Paribas Financial Markets lifted its stake in shares of Customers Bancorp by 117.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock valued at $1,878,000 after acquiring an additional 21,871 shares during the last quarter. Walleye Capital LLC boosted its holdings in shares of Customers Bancorp by 536.3% during the 3rd quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock valued at $1,786,000 after acquiring an additional 32,407 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Customers Bancorp by 2.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after acquiring an additional 12,000 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Stock Down 0.5 %

Shares of CUBI stock opened at $52.14 on Thursday. Customers Bancorp has a one year low of $42.31 and a one year high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The stock has a market cap of $1.64 billion, a P/E ratio of 10.26 and a beta of 1.74. The stock has a fifty day moving average price of $53.53 and a 200 day moving average price of $50.92.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. Analysts predict that Customers Bancorp will post 6.45 earnings per share for the current year.

About Customers Bancorp

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.