Several other equities research analysts have also recently weighed in on the stock. Maxim Group reiterated a buy rating and set a $38.00 price objective on shares of Customers Bancorp in a research report on Friday, October 25th. Zacks Investment Research upgraded shares of Customers Bancorp from a hold rating to a strong-buy rating and set a $28.00 price objective for the company in a research report on Thursday, October 31st. TheStreet upgraded shares of Customers Bancorp from a c rating to a b- rating in a research report on Friday, November 1st. Finally, Sandler O’Neill cut shares of Customers Bancorp from a buy rating to a hold rating in a research report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Customers Bancorp currently has an average rating of Buy and a consensus price target of $29.69.
Shares of CUBI traded down $0.21 during trading hours on Thursday, hitting $24.00. 190,489 shares of the stock were exchanged, compared to its average volume of 162,625. Customers Bancorp has a fifty-two week low of $16.72 and a fifty-two week high of $25.72. The company has a debt-to-equity ratio of 1.43, a current ratio of 1.09 and a quick ratio of 1.04. The business has a 50-day moving average of $22.28 and a 200-day moving average of $20.73. The firm has a market capitalization of $751.68 million, a P/E ratio of 9.88 and a beta of 1.07.
In other news, insider James T. Collins sold 1,519 shares of the stock in a transaction on Friday, September 27th. The shares were sold at an average price of $21.17, for a total transaction of $32,157.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 9.54% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its stake in Customers Bancorp by 0.7% during the second quarter. BlackRock Inc. now owns 4,348,588 shares of the bank’s stock worth $91,320,000 after acquiring an additional 28,107 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Customers Bancorp during the second quarter worth $14,422,000. Invesco Ltd. boosted its stake in Customers Bancorp by 338.7% during the second quarter. Invesco Ltd. now owns 640,090 shares of the bank’s stock worth $13,442,000 after acquiring an additional 494,195 shares in the last quarter. Matthew 25 Management Corp boosted its stake in Customers Bancorp by 25.6% during the second quarter. Matthew 25 Management Corp now owns 507,500 shares of the bank’s stock worth $10,658,000 after acquiring an additional 103,500 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Customers Bancorp by 88.0% during the second quarter. Wells Fargo & Company MN now owns 426,630 shares of the bank’s stock worth $8,959,000 after acquiring an additional 199,732 shares in the last quarter. 80.07% of the stock is currently owned by institutional investors and hedge funds.
Customers Bancorp Company Profile
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.
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