Keefe, Bruyette & Woods Lowers Customers Bancorp (NYSE:CUBI) Price Target to $65.00

Customers Bancorp (NYSE:CUBI - Free Report) had its price target lowered by Keefe, Bruyette & Woods from $67.00 to $65.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a market perform rating on the bank's stock.

A number of other equities research analysts have also recently commented on CUBI. Maxim Group raised their target price on Customers Bancorp from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Monday, January 27th. DA Davidson boosted their price objective on Customers Bancorp from $68.00 to $71.00 and gave the company a "buy" rating in a research report on Monday, January 27th. Finally, Stephens reiterated an "equal weight" rating and set a $58.00 target price on shares of Customers Bancorp in a research report on Friday, January 24th. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $63.80.

Customers Bancorp Stock Up 2.7 %

Shares of CUBI stock traded up $1.36 during trading hours on Monday, reaching $51.49. 144,501 shares of the company's stock were exchanged, compared to its average volume of 366,021. Customers Bancorp has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The stock's 50 day moving average is $48.89 and its 200-day moving average is $50.96. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 0.77. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 10.14 and a beta of 1.47.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating the consensus estimate of $1.28 by $0.26. The firm had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. During the same period last year, the firm posted $1.68 EPS. Analysts predict that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Customers Bancorp news, CEO Jay S. Sidhu sold 67,000 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total value of $3,806,940.00. Following the completion of the sale, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. This represents a 6.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CUBI. Victory Capital Management Inc. increased its position in Customers Bancorp by 25.9% during the first quarter. Victory Capital Management Inc. now owns 6,782 shares of the bank's stock worth $340,000 after purchasing an additional 1,396 shares during the last quarter. Arcus Capital Partners LLC acquired a new stake in shares of Customers Bancorp during the 1st quarter worth approximately $305,000. Nisa Investment Advisors LLC raised its holdings in Customers Bancorp by 3.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock valued at $373,000 after buying an additional 270 shares during the period. Envestnet Asset Management Inc. lifted its position in Customers Bancorp by 7.3% in the first quarter. Envestnet Asset Management Inc. now owns 19,075 shares of the bank's stock valued at $958,000 after buying an additional 1,298 shares during the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in Customers Bancorp during the first quarter worth about $267,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

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.