Bancorp, Inc. (NYSE:CUBI) Clients Receives Average Analyst Rating of “Moderate Buy”
Bancorp, Inc. Customers (NYSE: CUBI – Get a rating) received a consensus recommendation of “Hold” from the nine brokerages that cover the stock, Market assessments reports. Four investment analysts gave the stock a hold rating and two gave the company a buy rating. The 12-month average target price among analysts who have reported on the stock over the past year is $71.07.
CUBI has been the subject of a number of recent analyst reports. StockNews.com launched coverage on Customers Bancorp in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Maxim Group reiterated a “buy” rating and issued a price target of $85.00 on Customers Bancorp stock in a research report on Friday, April 29. Jefferies Financial Group reduced its target price on Customers Bancorp from $63.00 to $48.00 in a Monday, July 11 research report. Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performance” rating to an “outperform” rating and raised its price target for the company from $72.00 to $80.00 in a report research on Monday, March 28. Finally, Stephens began covering Customers Bancorp in a research report on Monday, March 28. They issued an “equal weight” rating and a target price of $62.50 on the stock.
Insider buying and selling
In related news, director Lyle Cunningham sold 1,000 shares of Customers Bancorp in a trade that took place on Tuesday May 3. The stock was sold at an average price of $43.06, for a total value of $43,060.00. Following the transaction, the administrator now directly owns 11,051 shares of the company, valued at $475,856.06. The transaction was disclosed in a legal filing with the SEC, which is available via this hyperlink. In other Customers Bancorp news, CEO Samvir S. Sidhu bought 2,965 shares of the company in a trade on Friday, May 6. The shares were purchased at an average cost of $42.10 per share, with a total value of $124,826.50. Following the completion of the purchase, the CEO now owns 80,637 shares of the company, valued at $3,394,817.70. The transaction was disclosed in a legal filing with the SEC, which is available via the SEC website. Additionally, manager Lyle Cunningham sold 1,000 shares of the company in a trade that took place on Tuesday, May 3. The shares were sold at an average price of $43.06, for a total value of $43,060.00. Following completion of the transaction, the administrator now directly owns 11,051 shares of the company, valued at $475,856.06. Disclosure of this sale can be found here. Insiders purchased a total of 4,465 shares of the company worth $186,912 over the past ninety days. 6.75% of the shares are held by insiders of the company.
Hedge funds weigh on Bancorp customers
A number of institutional investors have recently changed their holdings in CUBI. Point72 Hong Kong Ltd acquired a new position in shares of Customers Bancorp during the fourth quarter worth approximately $34,000. Meeder Asset Management Inc. acquired a new position in Customers Bancorp stock during the first quarter worth approximately $39,000. Lazard Asset Management LLC increased its holdings in Customers Bancorp by 70.5% during the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank worth $44,000 after buying 284 more shares last quarter. National Bank of Canada FI acquired a new stake in Customers Bancorp during the fourth quarter for a value of $87,000. Finally, Point72 Asset Management LP purchased a new stake in Customers Bancorp during the fourth quarter at a value of $92,000. 83.48% of the shares are held by institutional investors and hedge funds.
Bancorp Stock customers up 1.8%
Shares of NYSE CUBI opened at $38.69 on Tuesday. The company has a debt ratio of 0.15, a quick ratio of 0.81 and a current ratio of 0.81. Bancorp Customers has a 52-week minimum of $32.19 and a 52-week maximum of $76.13. The stock has a market capitalization of $1.28 billion, a P/E ratio of 3.86 and a beta of 1.61. The stock’s fifty-day moving average is $36.95 and its 200-day moving average is $48.34.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly results on Wednesday, April 27. The bank reported EPS of $2.19 for the quarter, beating analyst consensus estimates of $1.66 by $0.53. Customers Bancorp had a return on equity of 30.79% and a net margin of 40.14%. The company posted revenue of $185.90 million for the quarter, compared to $170.48 million expected by analysts. Sell-side analysts expect Customers Bancorp to post earnings per share of 7.95 for the current fiscal year.
About Bancorp Customers
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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