Customers Bancorp, Inc. (NYSE:CUBI) Receives Consensus Recommendation of “Buy” from Analysts
Customers Bancorp, Inc. (NYSE:CUBI – Get Free Report) has received an average rating of “Buy” from the seven brokerages that are currently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $51.75.
A number of equities research analysts have issued reports on the stock. Wedbush reaffirmed an “outperform” rating and issued a $50.00 price objective on shares of Customers Bancorp in a research report on Wednesday, September 6th. B. Riley reaffirmed a “buy” rating and set a $62.00 target price on shares of Customers Bancorp in a research report on Wednesday. Raymond James began coverage on shares of Customers Bancorp in a report on Thursday, September 28th. They issued a “strong-buy” rating and a $60.00 price target on the stock. Jefferies Financial Group decreased their price objective on shares of Customers Bancorp from $51.00 to $42.00 in a report on Tuesday, October 10th. Finally, StockNews.com assumed coverage on shares of Customers Bancorp in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.
Get Our Latest Stock Analysis on Customers Bancorp
Customers Bancorp Stock Down 0.2 %
CUBI stock opened at $48.79 on Friday. The firm has a market capitalization of $1.52 billion, a PE ratio of 7.76 and a beta of 1.59. The company has a quick ratio of 0.91, a current ratio of 0.92 and a debt-to-equity ratio of 1.20. Customers Bancorp has a twelve month low of $6.87 and a twelve month high of $51.15. The stock’s 50 day moving average is $39.85 and its 200-day moving average is $35.53.
Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its quarterly earnings data on Thursday, October 26th. The bank reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.99. Customers Bancorp had a net margin of 15.89% and a return on equity of 18.13%. The firm had revenue of $217.55 million for the quarter, compared to the consensus estimate of $182.29 million. Sell-side analysts expect that Customers Bancorp will post 7.56 EPS for the current fiscal year.
Insider Buying and Selling at Customers Bancorp
In other news, CFO Carla A. Leibold sold 16,619 shares of the company’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $34.33, for a total transaction of $570,530.27. Following the sale, the chief financial officer now directly owns 79,387 shares in the company, valued at $2,725,355.71. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Jay S. Sidhu sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $48.54, for a total value of $485,400.00. Following the completion of the sale, the chief executive officer now owns 157,290 shares in the company, valued at approximately $7,634,856.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Carla A. Leibold sold 16,619 shares of Customers Bancorp stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $34.33, for a total transaction of $570,530.27. Following the transaction, the chief financial officer now directly owns 79,387 shares in the company, valued at $2,725,355.71. The disclosure for this sale can be found here. Insiders have sold 180,558 shares of company stock valued at $7,248,081 in the last 90 days. 9.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Customers Bancorp
A number of large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp grew its holdings in shares of Customers Bancorp by 81.0% in the second quarter. Fifth Third Bancorp now owns 970 shares of the bank’s stock worth $29,000 after purchasing an additional 434 shares during the last quarter. Parallel Advisors LLC increased its position in shares of Customers Bancorp by 8,341.7% in the second quarter. Parallel Advisors LLC now owns 1,013 shares of the bank’s stock valued at $31,000 after acquiring an additional 1,001 shares during the period. BluePath Capital Management LLC purchased a new stake in shares of Customers Bancorp during the third quarter worth about $31,000. Gyon Technologies Capital Management LP bought a new stake in shares of Customers Bancorp in the fourth quarter worth about $38,000. Finally, Tower Research Capital LLC TRC increased its holdings in Customers Bancorp by 129.2% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank’s stock valued at $41,000 after purchasing an additional 1,253 shares during the period. Hedge funds and other institutional investors own 82.12% of the company’s stock.
About Customers Bancorp (Get Free Report
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.
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