Jefferies Financial Group Raises Customers Bancorp (NYSE:CUBI) Price Target to $64.00

Customers Bancorp (NYSE:CUBI - Get Free Report) had its price target hoisted by research analysts at Jefferies Financial Group from $61.00 to $64.00 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the bank's stock. Jefferies Financial Group's price objective would indicate a potential upside of 20.95% from the stock's previous close.

Other research analysts have also recently issued reports about the company. Wedbush lowered their price target on Customers Bancorp from $70.00 to $65.00 and set an "outperform" rating on the stock in a report on Friday, January 26th. Raymond James boosted their price target on Customers Bancorp from $65.00 to $72.00 and gave the stock a "strong-buy" rating in a report on Monday, January 29th. Finally, B. Riley boosted their price target on Customers Bancorp from $62.00 to $77.00 and gave the stock a "buy" rating in a report on Monday, January 29th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $61.86.

Customers Bancorp Stock Performance

Shares of NYSE:CUBI traded up $2.48 during mid-day trading on Monday, reaching $52.92. 257,486 shares of the company traded hands, compared to its average volume of 290,597. The company's 50 day moving average price is $52.51 and its 200-day moving average price is $47.51. The firm has a market cap of $1.67 billion, a PE ratio of 7.20 and a beta of 1.67. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91. Customers Bancorp has a 52 week low of $15.80 and a 52 week high of $60.09.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The bank reported $1.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.76 by $0.14. The company had revenue of $191.18 million during the quarter, compared to the consensus estimate of $187.87 million. Customers Bancorp had a return on equity of 18.75% and a net margin of 17.23%. On average, equities analysts expect that Customers Bancorp will post 6.93 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In other news, insider Glenn Hedde sold 666 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the sale, the insider now directly owns 69,428 shares of the company's stock, valued at approximately $3,762,997.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Carla A. Leibold sold 35,832 shares of the stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the sale, the chief financial officer now owns 41,224 shares in the company, valued at approximately $2,191,055.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Glenn Hedde sold 666 shares of the stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following the sale, the insider now owns 69,428 shares in the company, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. Insiders own 9.40% of the company's stock.

Institutional Trading of Customers Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. BluePath Capital Management LLC purchased a new stake in Customers Bancorp during the 3rd quarter valued at $31,000. Gyon Technologies Capital Management LP bought a new position in Customers Bancorp in the 4th quarter valued at $38,000. Tower Research Capital LLC TRC grew its position in Customers Bancorp by 129.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 2,223 shares of the bank's stock valued at $41,000 after acquiring an additional 1,253 shares during the last quarter. Belpointe Asset Management LLC grew its position in Customers Bancorp by 722.5% in the 1st quarter. Belpointe Asset Management LLC now owns 2,673 shares of the bank's stock valued at $50,000 after acquiring an additional 2,348 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new position in Customers Bancorp in the 2nd quarter valued at $56,000. 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.