Customers Bancorp, Inc. (NYSE: CUBI – Get a rating) earned a consensus “Buy” recommendation from all ten analysts who cover the company, reports MarketBeat.com. Four investment analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 12-month average price target among brokerages that have reported on the stock over the past year is $69.31.
CUBI has been the subject of several research analyst reports. Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performer” rating to an “outperformer” rating and raised their price target for the company from $72.00 to $80.00 in a Monday, March 28 research report. StockNews.com launched coverage on Customers Bancorp in a research report on Thursday, March 31. They issued a “hold” rating on the stock. B. Riley reduced his price target on Customers Bancorp from $100.00 to $90.00 in a Tuesday, April 12 research report. Stephens launched coverage on Customers Bancorp in a research report on Monday, March 28. They issued an “equal weight” rating and $62.50 price target on the stock. Finally, Maxim Group reaffirmed a “buy” rating and posted a price target of $85.00 on Customers Bancorp stock in a Friday, April 29 research report.
Separately, director Lyle Cunningham sold 1,000 shares of the company in a trade dated Tuesday, May 3. The stock was sold at an average price of $43.06, for a total transaction of $43,060.00. Following the sale, the director now owns 11,051 shares of the company, valued at $475,856.06. The sale was disclosed in a filing with the SEC, which is available via the SEC website. Additionally, CEO Samvir S. Sidhu acquired 2,965 shares of the company in a transaction that took place on Friday, May 6. The shares were purchased at an average cost of $42.10 per share, for a total transaction of $124,826.50. As a result of the transaction, the CEO now owns 80,637 shares of the company, valued at $3,394,817.70. Disclosure of this purchase can be found here. In the past ninety days, insiders have purchased 4,465 shares of the company worth $186,912. 10.23% of the shares are held by insiders.
A number of institutional investors have recently increased or reduced their stake in the company. Lazard Asset Management LLC increased its stake in Customers Bancorp shares by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank worth $44,000 after buying 284 additional shares in the last quarter. EAM Global Investors LLC increased its stake in Customers Bancorp shares by 50.9% in the fourth quarter. EAM Global Investors LLC now owns 75,980 shares of the bank worth $4,967,000 after purchasing an additional 25,625 shares in the last quarter. USA Financial Portformulas Corp increased its stake in Customers Bancorp shares by 30.2% in the fourth quarter. USA Financial Portformulas Corp now owns 2,001 shares of the bank worth $131,000 after buying 464 more shares in the last quarter. Meritage Portfolio Management increased its stake in Customers Bancorp stock by 46.6% in the fourth quarter. Meritage Investment Management now owns 8,579 shares of the bank worth $561,000 after buying 2,727 additional shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Customers Bancorp shares by 5.9% in the fourth quarter. JPMorgan Chase & Co. now owns 557,238 shares of the bank worth $36,427,000 after buying an additional 30,974 shares in the last quarter. Institutional investors hold 83.48% of the company’s shares.
NYSE: CUBI opened at $40.66 on Monday. The stock’s fifty-day moving average is $43.46 and its 200-day moving average is $54.79. Bancorp customers have a fifty-two week minimum of $34.55 and a fifty-two week maximum of $76.13. The company has a market capitalization of $1.34 billion, a PE ratio of 4.06 and a beta of 1.58. The company has a debt ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81.
About Bancorp Customers (Get a rating)
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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