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

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given an average rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, MarketBeat 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.

A number of equities research analysts recently weighed in on the company. Maxim Group raised their price objective on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 27th. DA Davidson raised 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. Keefe, Bruyette & Woods boosted their price objective on shares of Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research note on Monday, January 27th. Finally, Stephens reissued an “equal weight” rating and set a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th.

Insiders Place Their Bets

In other Customers Bancorp news, insider Glenn Hedde sold 15,815 shares of Customers Bancorp stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the completion of the sale, the insider now directly owns 55,211 shares in the company, valued at approximately $3,216,040.75. The trade was a 22.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jay S. Sidhu sold 67,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were 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 $54,872,380.86. This trade represents a 6.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 115,988 shares of company stock valued at $6,627,318. Insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Basswood Capital Management L.L.C. acquired a new stake in Customers Bancorp during the 3rd quarter worth about $26,000. Picton Mahoney Asset Management boosted its stake in shares of Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock worth $28,000 after buying an additional 189 shares during the last quarter. R Squared Ltd acquired a new stake in Customers Bancorp during the fourth quarter worth about $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Customers Bancorp during the fourth quarter valued at approximately $46,000. Finally, KBC Group NV lifted its holdings in 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 acquiring an additional 677 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Up 0.2 %

NYSE:CUBI opened at $50.24 on Thursday. The firm has a 50-day simple moving average of $53.60 and a 200-day simple moving average of $50.99. Customers Bancorp has a one year low of $42.31 and a one year high of $68.49. The firm has a market cap of $1.58 billion, a P/E ratio of 9.89 and a beta of 1.74. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96.

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