Customers Bancorp, Inc (NYSE:CUBI) Stock Has Average Target Price of $91.36

Shares of Customers Bancorp, Inc (NYSE:CUBI) have received an average recommendation of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $91.18.

A number of analysts recently issued reports on CUBI shares. Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research note on Friday, September 25th. Fundamental Research set a $94.00 price target on Customers Bancorp in a research report on Wednesday, July 1st. JPMorgan Chase & Co. dropped their price target on shares of Customers Bancorp from $96.00 to $92.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, DA Davidson lifted their price target on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th.

Insider Buying and Selling at Customers Bancorp

In other news, Chairman Jay Sidhu sold 68,821 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the sale, the chairman owned 667,757 shares of the company’s stock, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 100,000 shares of company stock worth $7,981,084 over the last three months. 10.45% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds have recently modified their holdings of the company. Summit Global Investments acquired a new stake in shares of Customers Bancorp in the 2nd quarter valued at about $1,016,000. HighTower Advisors LLC purchased a new stake in Customers Bancorp during the 4th quarter valued at about $1,534,000. Louisiana State Employees Retirement System bought a new stake in Customers Bancorp during the 1st quarter valued at about $979,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Customers Bancorp in the 2nd quarter worth $1,618,000. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in shares of Customers Bancorp by 14.1% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 242,313 shares of the bank’s stock valued at $16,819,000 after buying an additional 29,956 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

Shares of CUBI opened at $75.47 on Monday. The stock has a 50-day simple moving average of $79.11 and a 200-day simple moving average of $76.37. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00. Customers Bancorp has a 1 year low of $59.34 and a 1 year high of $84.38. The stock has a market capitalization of $2.55 billion, a PE ratio of 9.20 and a beta of 1.52.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The company had revenue of $227.28 million during the quarter, compared to analysts’ expectations of $229.24 million. During the same quarter in the previous year, the business posted $1.80 EPS. The firm’s revenue was up 10.2% on a year-over-year basis. On average, analysts predict that Customers Bancorp will post 8.44 earnings per share for the current fiscal year.

About Customers Bancorp

Customers Bancorp, Inc is a bank holding company whose principal subsidiary, Customers Bank, provides commercial and consumer banking services. The bank offers deposit accounts, commercial and residential real estate lending, business loans, equipment financing, consumer loans and other credit products. It also provides treasury management, payment and cash-management services for business and institutional customers.

Customers Bank focuses on serving small and mid-sized businesses, entrepreneurs, professionals, consumers and select institutional clients.