Customers Bancorp, Inc (CUBI) Receives $40.33 Average Price Target from Analysts

Customers Bancorp, Inc (NYSE:CUBI) has been given a consensus rating of “Hold” by the eight analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $40.33.

A number of equities research analysts have issued reports on the stock. Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a report on Friday, October 27th. Zacks Investment Research upgraded shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 price target for the company in a report on Tuesday, October 24th. BidaskClub upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a report on Saturday, September 16th. Maxim Group restated a “buy” rating and set a $50.00 price target on shares of Customers Bancorp in a report on Thursday, October 26th. Finally, TheStreet cut shares of Customers Bancorp from a “b” rating to a “c+” rating in a report on Wednesday, November 8th.

In related news, CFO Robert E. Wahlman sold 50,000 shares of the stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total value of $1,333,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rick Burkey sold 1,129 shares of the stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $26.74, for a total transaction of $30,189.46. Following the completion of the sale, the director now owns 40,919 shares of the company’s stock, valued at approximately $1,094,174.06. The disclosure for this sale can be found here. Insiders have sold 60,129 shares of company stock valued at $1,603,489 over the last 90 days. Corporate insiders own 8.67% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio lifted its stake in shares of Customers Bancorp by 26.7% in the third quarter. Public Employees Retirement System of Ohio now owns 76,509 shares of the bank’s stock valued at $2,496,000 after buying an additional 16,109 shares during the period. Algert Global LLC bought a new stake in shares of Customers Bancorp in the third quarter valued at about $1,416,000. Piedmont Investment Advisors LLC bought a new stake in shares of Customers Bancorp in the third quarter valued at about $205,000. Janney Montgomery Scott LLC bought a new stake in shares of Customers Bancorp in the third quarter valued at about $241,000. Finally, Kalos Management Inc. lifted its stake in shares of Customers Bancorp by 23.7% in the third quarter. Kalos Management Inc. now owns 21,491 shares of the bank’s stock valued at $701,000 after buying an additional 4,119 shares during the period. Institutional investors and hedge funds own 87.86% of the company’s stock.

Customers Bancorp (NYSE CUBI) traded up $0.71 during trading on Thursday, reaching $26.52. 760,652 shares of the company’s stock traded hands, compared to its average volume of 258,914. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.17 and a quick ratio of 0.91. The firm has a market capitalization of $816.98, a P/E ratio of 9.27 and a beta of 0.61. Customers Bancorp has a 52-week low of $24.75 and a 52-week high of $36.93.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.09). Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. The firm had revenue of $86.05 million for the quarter, compared to the consensus estimate of $80.32 million. During the same quarter last year, the company earned $0.64 earnings per share. equities research analysts forecast that Customers Bancorp will post 2.47 EPS for the current year.

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About Customers Bancorp

Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

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