Shares of Customers Bancorp Inc (NYSE:CUBI) have been given a consensus rating of “Hold” by the six research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $29.33.
Several equities analysts have weighed in on the company. Maxim Group set a $38.00 target price on Customers Bancorp and gave the company a “buy” rating in a research report on Friday, December 21st. ValuEngine lowered shares of Customers Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, January 10th. Zacks Investment Research cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Monday, December 31st. Finally, Boenning Scattergood restated a “buy” rating and issued a $22.75 price target on shares of Customers Bancorp in a research note on Wednesday, December 26th.
In related news, VP Steven Issa sold 6,926 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $20.48, for a total transaction of $141,844.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Glenn Hedde sold 1,276 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $21.65, for a total value of $27,625.40. The disclosure for this sale can be found here. Insiders sold a total of 16,004 shares of company stock worth $337,759 over the last ninety days. Insiders own 7.71% of the company’s stock.
CUBI stock traded up $0.28 during mid-day trading on Wednesday, hitting $19.49. 5,025 shares of the company were exchanged, compared to its average volume of 188,358. The firm has a market cap of $597.82 million, a PE ratio of 8.01, a price-to-earnings-growth ratio of 0.89 and a beta of 0.84. Customers Bancorp has a 12-month low of $16.72 and a 12-month high of $32.34. The company has a debt-to-equity ratio of 1.84, a current ratio of 1.14 and a quick ratio of 1.14.
Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 24th. The bank reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.02. The firm had revenue of $61.50 million during the quarter, compared to analysts’ expectations of $64.38 million. Customers Bancorp had a net margin of 15.03% and a return on equity of 12.82%. The firm’s quarterly revenue was down 10.0% on a year-over-year basis. During the same quarter last year, the company posted $0.55 EPS. Sell-side analysts anticipate that Customers Bancorp will post 2.15 EPS for the current fiscal year.
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 accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.
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