Customers Bancorp (NYSE:CUBI) Receives “Equal Weight” Rating from Stephens

Customers Bancorp (NYSE:CUBI)‘s stock had its “equal weight” rating reissued by investment analysts at Stephens in a report released on Friday,Benzinga reports. They currently have a $58.00 price objective on the bank’s stock. Stephens’ price target would suggest a potential upside of 0.86% from the stock’s previous close.

Several other research analysts have also recently weighed in on the company. Piper Sandler decreased their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Keefe, Bruyette & Woods lifted their price target on shares of Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. B. Riley increased their price objective on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, November 4th. Finally, Raymond James decreased their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $62.56.

Customers Bancorp Stock Performance

CUBI stock traded up $7.16 on Friday, reaching $57.51. The company’s stock had a trading volume of 249,657 shares, compared to its average volume of 332,315. The firm has a fifty day moving average of $51.36 and a two-hundred day moving average of $50.94. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market capitalization of $1.80 billion, a P/E ratio of 9.28 and a beta of 1.68. Customers Bancorp has a 52 week low of $42.31 and a 52 week high of $68.49.

Customers Bancorp (NYSE:CUBI) last issued its quarterly 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%. As a group, analysts predict that Customers Bancorp will post 5.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction 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 completion of the sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. The trade was a 46.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glenn Hedde sold 5,002 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the transaction, the insider now directly owns 66,256 shares in the company, valued at $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. Insiders have sold a total of 96,440 shares of company stock worth $5,425,815 in the last ninety days. Corporate insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

A number of large investors have recently added to or reduced their stakes in the stock. Basswood Capital Management L.L.C. acquired a new stake in shares of Customers Bancorp in the third quarter worth $26,000. R Squared Ltd acquired a new position in Customers Bancorp during the 4th quarter worth $42,000. KBC Group NV boosted its holdings in Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after acquiring an additional 677 shares during the period. GAMMA Investing LLC grew its position in shares of Customers Bancorp by 21.7% in 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. Finally, Quest Partners LLC increased its stake in shares of Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the period. Institutional investors own 89.29% of the company’s stock.

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.