Analysts Set Customers Bancorp, Inc. (NYSE:CUBI) PT at $61.50

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have received a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $61.50.

Several research firms recently commented on CUBI. Wedbush cut their target price on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. B. Riley boosted their price target on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research report on Monday, January 29th. Raymond James lifted their target price on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th. Jefferies Financial Group raised their price target on Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. Finally, Hovde Group reduced their target price on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd.

Customers Bancorp Stock Up 0.7 %

Customers Bancorp stock opened at $47.88 on Monday. The firm has a fifty day moving average price of $50.51 and a two-hundred day moving average price of $49.89. Customers Bancorp has a fifty-two week low of $16.41 and a fifty-two week high of $60.09. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 6.69 and a beta of 1.67. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.93 and a quick ratio of 0.91.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.05. The company had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The company’s quarterly revenue was up 8.1% on a year-over-year basis. During the same quarter last year, the company earned $1.58 EPS. As a group, analysts forecast that Customers Bancorp will post 6.46 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, insider Glenn Hedde sold 666 shares of the business’s stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the completion of the transaction, the insider now directly owns 69,428 shares in the company, valued at approximately $3,762,997.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Customers Bancorp news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the sale, the chief financial officer now directly owns 41,224 shares in the company, valued at $2,191,055.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenn Hedde sold 666 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total transaction of $36,097.20. Following the completion of the transaction, the insider now directly owns 69,428 shares in the company, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. Insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. BluePath Capital Management LLC bought a new position in Customers Bancorp in the third quarter valued at $31,000. GAMMA Investing LLC acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at about $78,000. C M Bidwell & Associates Ltd. bought a new stake in Customers Bancorp during the third quarter worth about $112,000. Federated Hermes Inc. increased its position in shares of Customers Bancorp by 29,550.0% during the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock worth $123,000 after purchasing an additional 3,546 shares during the last quarter. Finally, Aigen Investment Management LP bought a new stake in shares of Customers Bancorp during the 4th quarter worth approximately $209,000. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Company Profile

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.