Customers Bancorp Inc (CUBI) Upgraded to B at TheStreet

TheStreet upgraded shares of Customers Bancorp Inc (NYSE:CUBI) from a c+ rating to a b rating in a report released on Wednesday morning.

Several other equities analysts have also issued reports on CUBI. Zacks Investment Research raised Customers Bancorp from a hold rating to a strong-buy rating and set a $40.00 price objective on the stock in a report on Monday, January 30th. Maxim Group raised their price target on Customers Bancorp from $40.00 to $50.00 and gave the stock a buy rating in a report on Wednesday, February 1st. Finally, Keefe, Bruyette & Woods reissued a hold rating and set a $37.00 price target on shares of Customers Bancorp in a report on Thursday, April 27th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Customers Bancorp presently has an average rating of Buy and a consensus price target of $41.75.

Shares of Customers Bancorp (NYSE:CUBI) traded up 0.87% during trading on Wednesday, hitting $29.08. The stock had a trading volume of 115,498 shares. The stock’s 50-day moving average is $30.42 and its 200-day moving average is $32.34. Customers Bancorp has a 12-month low of $23.80 and a 12-month high of $36.93. The stock has a market cap of $890.89 million, a price-to-earnings ratio of 12.07 and a beta of 0.63.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, April 26th. The bank reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.09. The company had revenue of $62.42 million for the quarter, compared to analyst estimates of $66.31 million. Customers Bancorp had a return on equity of 14.66% and a net margin of 20.73%. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 earnings per share. On average, equities research analysts expect that Customers Bancorp will post $2.58 EPS for the current year.

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In related news, VP Steven Issa sold 4,463 shares of the firm’s stock in a transaction dated Friday, March 10th. The stock was sold at an average price of $33.00, for a total transaction of $147,279.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Richard A. Ehst sold 2,970 shares of the firm’s stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $31.20, for a total value of $92,664.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 490,753 shares of company stock worth $16,041,961. Corporate insiders own 10.58% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Keybank National Association OH raised its position in Customers Bancorp by 3.3% in the fourth quarter. Keybank National Association OH now owns 10,086 shares of the bank’s stock worth $361,000 after buying an additional 318 shares in the last quarter. John W. Rosenthal Capital Management Inc. purchased a new stake in shares of Customers Bancorp during the fourth quarter worth approximately $1,791,000. Dimensional Fund Advisors LP increased its stake in shares of Customers Bancorp by 14.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,412,599 shares of the bank’s stock worth $50,599,000 after buying an additional 174,004 shares during the last quarter. State Street Corp increased its stake in shares of Customers Bancorp by 17.9% in the fourth quarter. State Street Corp now owns 723,272 shares of the bank’s stock worth $25,906,000 after buying an additional 109,667 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Customers Bancorp during the fourth quarter worth approximately $8,360,000. 75.50% of the stock is currently owned by hedge funds and other institutional investors.

About Customers Bancorp

Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

5 Day Chart for NYSE:CUBI

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