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

Stephens reaffirmed their equal weight rating on shares of Customers Bancorp (NYSE:CUBI) in a research note published on Friday,Benzinga reports. The firm currently has a $58.00 price objective on the bank’s stock.

Other equities research analysts have also issued reports about the stock. B. Riley upped their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods raised their target price on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Piper Sandler dropped their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th. Finally, Raymond James reduced their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $62.56.

Customers Bancorp Stock Performance

NYSE CUBI opened at $57.46 on Friday. Customers Bancorp has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The stock has a market cap of $1.80 billion, a PE ratio of 9.33 and a beta of 1.68. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The firm’s fifty day moving average price is $51.41 and its two-hundred day moving average price is $51.01.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. On average, equities analysts expect that Customers Bancorp will post 5.63 EPS for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the transaction, the chief executive officer now directly owns 1,189,738 shares in the company, valued at $65,114,360.74. This represents a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,440 shares of company stock worth $5,425,815 in the last quarter. 6.92% of the stock is currently owned by company insiders.

Institutional Trading of Customers Bancorp

A number of hedge funds have recently made changes to their positions in CUBI. Basswood Capital Management L.L.C. bought a new stake in Customers Bancorp in the 3rd quarter worth approximately $26,000. R Squared Ltd bought a new stake in shares of Customers Bancorp in the 4th quarter worth approximately $42,000. KBC Group NV boosted its stake in shares of Customers Bancorp by 82.8% in the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares in the last quarter. GAMMA Investing LLC raised its position in Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares during the period. Finally, Quest Partners LLC lifted its stake in 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 last quarter. 89.29% of the stock is owned by institutional investors.

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.