Maxim Group Raises Customers Bancorp (NYSE:CUBI) Price Target to $80.00

Customers Bancorp (NYSE:CUBI) had its target price boosted by analysts at Maxim Group from $75.00 to $80.00 in a report issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Maxim Group’s target price would indicate a potential upside of 40.38% from the company’s previous close.

CUBI has been the subject of several other reports. Keefe, Bruyette & Woods boosted their price target on Customers Bancorp from $62.00 to $67.00 and gave the stock a “market perform” rating in a research report on Monday. B. Riley boosted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Stephens restated an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a report on Friday, January 24th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Finally, DA Davidson raised their target price on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research note on Monday. Six research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Customers Bancorp has an average rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $56.99 on Monday. Customers Bancorp has a twelve month low of $42.31 and a twelve month high of $68.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock has a fifty day simple moving average of $51.56 and a two-hundred day simple moving average of $51.03. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 9.25 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 23rd. The bank reported $1.36 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. On average, analysts predict that Customers Bancorp will post 5.63 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the sale, the insider now directly owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay S. Sidhu sold 86,578 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the transaction, the chief executive officer now directly owns 1,090,598 shares of the company’s stock, valued at approximately $61,662,410.92. This trade represents a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,440 shares of company stock valued at $5,425,815 in the last ninety days. Company insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after buying an additional 169,982 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Customers Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock valued at $31,924,000 after purchasing an additional 17,941 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Customers Bancorp by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after purchasing an additional 12,000 shares during the period. Assenagon Asset Management S.A. boosted its position in Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after purchasing an additional 225,785 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in Customers Bancorp by 53.1% in the second quarter. Sei Investments Co. now owns 132,048 shares of the bank’s stock valued at $6,336,000 after purchasing an additional 45,818 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

About Customers Bancorp

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.