Customers Bancorp (NYSE:CUBI) Now Covered by StockNews.com

Analysts at StockNews.com initiated coverage on shares of Customers Bancorp (NYSE:CUBI – Get Rating) in a research note issued to investors on Thursday. The firm set a “hold” rating on the bank’s stock.

Several other analysts also recently commented on CUBI. Stephens set a $45.00 target price on shares of Customers Bancorp in a report on Wednesday, November 23rd. DA Davidson reissued a “buy” rating on shares of Customers Bancorp in a report on Wednesday, December 21st. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $20.04 on Thursday. The company has a market capitalization of $633.26 million, a price-to-earnings ratio of 3.09 and a beta of 1.56. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.86 and a current ratio of 0.88. The company has a 50-day simple moving average of $29.49 and a 200 day simple moving average of $30.74. Customers Bancorp has a 52 week low of $6.87 and a 52 week high of $59.97.

Customers Bancorp (NYSE:CUBI – Get Rating) last announced its earnings results on Wednesday, January 25th. The bank reported $1.19 EPS for the quarter, missing the consensus estimate of $1.66 by ($0.47). The company had revenue of $142.48 million for the quarter, compared to the consensus estimate of $169.85 million. Customers Bancorp had a return on equity of 21.40% and a net margin of 24.85%. On average, sell-side analysts predict that Customers Bancorp will post 5.35 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu purchased 45,450 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $11.00 per share, with a total value of $499,950.00. Following the acquisition, the chief executive officer now owns 1,167,626 shares in the company, valued at approximately $12,843,886. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Daniel K. Rothermel purchased 5,000 shares of the business’s stock in a transaction dated Monday, March 13th. The stock was bought at an average price of $10.71 per share, with a total value of $53,550.00. Following the acquisition, the director now owns 102,962 shares in the company, valued at approximately $1,102,723.02. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu acquired 45,450 shares of the stock in a transaction that occurred on Monday, March 13th. The shares were bought at an average price of $11.00 per share, with a total value of $499,950.00. Following the completion of the transaction, the chief executive officer now owns 1,167,626 shares in the company, valued at $12,843,886. The disclosure for this purchase can be found here. Insiders own 6.75% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. SevenOneSeven Capital Management increased its position in Customers Bancorp by 3.8% in the 4th quarter. SevenOneSeven Capital Management now owns 8,713 shares of the bank’s stock valued at $247,000 after acquiring an additional 315 shares during the period. Price T Rowe Associates Inc. MD increased its position in Customers Bancorp by 3.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 10,783 shares of the bank’s stock valued at $366,000 after acquiring an additional 328 shares during the period. SummerHaven Investment Management LLC increased its position in Customers Bancorp by 1.6% in the 4th quarter. SummerHaven Investment Management LLC now owns 22,352 shares of the bank’s stock valued at $633,000 after acquiring an additional 350 shares during the period. Great West Life Assurance Co. Can increased its position in Customers Bancorp by 1.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 26,354 shares of the bank’s stock valued at $1,410,000 after acquiring an additional 398 shares during the period. Finally, Texas Permanent School Fund increased its position in Customers Bancorp by 2.2% in the 2nd quarter. Texas Permanent School Fund now owns 21,931 shares of the bank’s stock valued at $743,000 after acquiring an additional 464 shares during the period. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Company Profile

(Get Rating)

Customers Bancorp, Inc operates as a bank holding company, which engages in the provision of banking services through its subsidiary, Customers Bank. It operates through the Customers Bank Business Banking and BankMobile segments. The Customers Bank Business Banking segment includes commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington, DC, and Illinois through a single-point-of-contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies.