Customers Bancorp, Inc. (NYSE:CUBI) Receives Consensus Rating of “Buy” from Analysts

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given a consensus recommendation of “Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. One analyst has rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $61.86.

Several analysts recently issued reports on the stock. Wedbush decreased their price objective on shares of Customers Bancorp from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, January 26th. B. Riley upped their price objective on shares of Customers Bancorp from $62.00 to $77.00 and gave the stock a “buy” rating in a report on Monday, January 29th. Raymond James upped their price objective on shares of Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, January 29th. Finally, Jefferies Financial Group increased their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th.

Customers Bancorp Price Performance

NYSE CUBI opened at $46.62 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.92. The company has a fifty day simple moving average of $52.07 and a 200 day simple moving average of $48.26. The company has a market cap of $1.47 billion, a P/E ratio of 6.38 and a beta of 1.67. Customers Bancorp has a 1 year low of $15.80 and a 1 year high of $60.09.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.14. The business had revenue of $191.18 million during the quarter, compared to the consensus estimate of $187.87 million. Customers Bancorp had a net margin of 17.23% and a return on equity of 18.75%. On average, sell-side analysts predict that Customers Bancorp will post 6.87 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total value of $1,904,470.80. Following the completion of the transaction, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Glenn Hedde sold 666 shares of the stock in a transaction 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 owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. Insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds have recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Customers Bancorp by 51.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 71,000 shares of the bank’s stock worth $4,091,000 after purchasing an additional 24,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Customers Bancorp by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,546 shares of the bank’s stock worth $723,000 after purchasing an additional 752 shares in the last quarter. Virtue Capital Management LLC acquired a new stake in shares of Customers Bancorp during the 4th quarter worth about $696,000. Hanseatic Management Services Inc. acquired a new stake in shares of Customers Bancorp during the 4th quarter worth about $183,000. Finally, Legal & General Group Plc increased its position in shares of Customers Bancorp by 0.4% during the 4th quarter. Legal & General Group Plc now owns 81,576 shares of the bank’s stock worth $4,700,000 after purchasing an additional 329 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.