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

Customers Bancorp (NYSE:CUBI)‘s stock had its “equal weight” rating reissued by equities research analysts at Stephens in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $58.00 price target on the bank’s stock. Stephens’ target price would suggest a potential upside of 0.94% from the stock’s previous close.

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

Customers Bancorp Price Performance

Customers Bancorp stock opened at $57.46 on Friday. The company has a fifty day simple moving average of $51.41 and a 200-day simple moving average of $51.02. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 9.33 and a beta of 1.68. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. Customers Bancorp has a 52-week low of $42.31 and a 52-week high of $68.49.

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

Insider Activity at Customers Bancorp

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

Institutional Trading of Customers Bancorp

A number of large investors have recently modified their holdings of the stock. Intech Investment Management LLC grew its stake in Customers Bancorp by 74.2% during the 3rd quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock worth $1,177,000 after purchasing an additional 10,797 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Customers Bancorp by 26.6% during the second quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank’s stock worth $3,429,000 after buying an additional 15,011 shares in the last quarter. BNP Paribas Financial Markets grew its position in shares of Customers Bancorp by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock worth $1,878,000 after buying an additional 21,871 shares in the last quarter. Walleye Capital LLC increased its stake in shares of Customers Bancorp by 536.3% during the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock worth $1,786,000 after buying an additional 32,407 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in Customers Bancorp by 88.9% in the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after acquiring an additional 225,785 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

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.