Analysts Set Customers Bancorp, Inc. (NYSE:CUBI) Target Price at $62.00

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given a consensus rating of “Moderate Buy” by the seven brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $64.14.

A number of equities analysts have recently weighed in on CUBI shares. Keefe, Bruyette & Woods dropped their price objective on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a report on Friday, August 9th. B. Riley lifted their price objective on shares of Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, July 29th. DA Davidson upped their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, Raymond James reduced their price target 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.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were purchased at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the transaction, the chief executive officer now owns 144,504 shares of the company’s stock, valued at $6,579,267.12. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Several large investors have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new position in Customers Bancorp during the second quarter valued at $48,000. Innealta Capital LLC purchased a new stake in Customers Bancorp in the 2nd quarter worth about $74,000. GAMMA Investing LLC lifted its stake in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares during the last quarter. CWM LLC boosted its position in shares of Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after buying an additional 274 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in shares of Customers Bancorp during the second quarter valued at approximately $151,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $45.77 on Monday. The firm’s 50 day simple moving average is $47.36 and its two-hundred day simple moving average is $48.91. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The company has a market capitalization of $1.45 billion, a P/E ratio of 6.13 and a beta of 1.61. Customers Bancorp has a 1-year low of $40.46 and a 1-year high of $68.49.

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.