Customers Bancorp (NYSE:CUBI) Shares Up 4.7% – Still a Buy?

Customers Bancorp, Inc. (NYSE:CUBI)’s share price shot up 4.7% during trading on Friday . The company traded as high as $47.28 and last traded at $47.28. 67,827 shares changed hands during trading, a decline of 81% from the average session volume of 359,016 shares. The stock had previously closed at $45.15.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on CUBI shares. Jefferies Financial Group decreased their price target on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, July 3rd. DA Davidson boosted their target price on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered their target price on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Finally, B. Riley upped their price objective on Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, July 29th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

Customers Bancorp Trading Up 4.3 %

The company has a market cap of $1.49 billion, a PE ratio of 6.40 and a beta of 1.61. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The company has a 50-day moving average of $48.22 and a 200 day moving average of $49.43.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The company had revenue of $198.69 million during the quarter, compared to the consensus estimate of $184.40 million. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. Customers Bancorp’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.65 earnings per share. Analysts predict that Customers Bancorp, Inc. will post 6.11 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the transaction, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 6.92% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC acquired a new position in shares of Customers Bancorp during the second quarter worth about $48,000. GAMMA Investing LLC lifted its stake in shares of Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after buying an additional 282 shares during the period. Innealta Capital LLC purchased a new position in Customers Bancorp during the second quarter worth approximately $74,000. CWM LLC raised its stake in Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after purchasing an additional 274 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Customers Bancorp in the second quarter worth $151,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.