Stephens Reaffirms “Equal Weight” Rating for Customers Bancorp (NYSE:CUBI)

Customers Bancorp (NYSE:CUBI)‘s stock had its “equal weight” rating restated by Stephens in a research report issued on Friday,Benzinga reports. They presently have a $58.00 price objective on the bank’s stock. Stephens’ price objective would indicate a potential upside of 0.94% from the stock’s previous close.

A number of other analysts have also recently weighed in on CUBI. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Raymond James cut their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler lowered their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Monday, November 4th. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Finally, B. Riley raised their price target on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.56.

Customers Bancorp Trading Up 14.1 %

Shares of NYSE CUBI opened at $57.46 on Friday. Customers Bancorp has a 1-year low of $42.31 and a 1-year high of $68.49. The business has a fifty day moving average price of $51.41 and a 200 day moving average price of $51.02. The stock has a market capitalization of $1.80 billion, a P/E ratio of 9.33 and a beta of 1.68. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. Equities research 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, Director Robert Neil Mackay sold 4,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 in the company, valued at approximately $245,613.26. This represents a 46.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the transaction, the insider now directly owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,440 shares of company stock valued at $5,425,815. 6.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors have recently modified their holdings of CUBI. Canada Pension Plan Investment Board acquired a new stake in Customers Bancorp in the second quarter valued at approximately $1,579,000. Sei Investments Co. grew its stake in Customers Bancorp by 53.1% in the 2nd quarter. Sei Investments Co. now owns 132,048 shares of the bank’s stock valued at $6,336,000 after acquiring an additional 45,818 shares during the period. Thrivent Financial for Lutherans increased its holdings in Customers Bancorp by 26.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank’s stock worth $3,429,000 after acquiring an additional 15,011 shares in the last quarter. Public Sector Pension Investment Board lifted its holdings in Customers Bancorp by 8.0% during the second quarter. Public Sector Pension Investment Board now owns 62,656 shares of the bank’s stock valued at $3,006,000 after purchasing an additional 4,651 shares in the last quarter. Finally, Bank of Montreal Can grew its position in shares of Customers Bancorp by 47.4% in the second quarter. Bank of Montreal Can now owns 8,900 shares of the bank’s stock valued at $429,000 after purchasing an additional 2,862 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.