Customers Bancorp (CUBI) Given a $30.00 Price Target by B. Riley Analysts
Customers Bancorp (NYSE:CUBI) has been given a $30.00 price target by research analysts at B. Riley in a report released on Tuesday, TipRanks reports. The firm currently has a “buy” rating on the bank’s stock. B. Riley’s target price would suggest a potential upside of 41.24% from the company’s previous close.
A number of other research firms also recently weighed in on CUBI. TheStreet upgraded shares of Customers Bancorp from a “c+” rating to a “b-” rating in a report on Monday, May 6th. ValuEngine upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, April 16th. Finally, Boenning Scattergood restated a “buy” rating on shares of Customers Bancorp in a report on Friday, January 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.95.
Shares of Customers Bancorp stock traded up $0.35 during midday trading on Tuesday, reaching $21.24. 85,563 shares of the company’s stock traded hands, compared to its average volume of 181,620. The company has a market capitalization of $677.11 million, a P/E ratio of 8.74, a P/E/G ratio of 0.97 and a beta of 0.94. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.49. Customers Bancorp has a 52 week low of $16.72 and a 52 week high of $32.34.
In related news, VP Steven Issa sold 6,926 shares of the firm’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $20.48, for a total value of $141,844.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 7,802 shares of the firm’s stock in a transaction on Tuesday, February 26th. The shares were sold at an average price of $21.57, for a total transaction of $168,289.14. The disclosure for this sale can be found here. Insiders have sold a total of 16,004 shares of company stock worth $337,759 in the last 90 days. 9.54% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of CUBI. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Customers Bancorp by 116.3% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,726 shares of the bank’s stock valued at $31,000 after acquiring an additional 928 shares in the last quarter. Acadian Asset Management LLC bought a new position in shares of Customers Bancorp in the fourth quarter worth about $75,000. BNP Paribas Arbitrage SA raised its stake in shares of Customers Bancorp by 75,462.5% in the first quarter. BNP Paribas Arbitrage SA now owns 6,045 shares of the bank’s stock worth $111,000 after acquiring an additional 6,037 shares during the last quarter. Financial Gravity Wealth Inc. bought a new position in shares of Customers Bancorp in the first quarter worth about $125,000. Finally, Financial Gravity Companies Inc. bought a new position in shares of Customers Bancorp in the fourth quarter worth about $127,000. Institutional investors and hedge funds own 77.02% 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 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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