Customers Bancorp (CUBI) Raised to Buy at ValuEngine
Customers Bancorp (NYSE:CUBI) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.
Several other equities research analysts also recently issued reports on CUBI. BidaskClub downgraded Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, September 26th. Maxim Group restated a “buy” rating and issued a $50.00 price target on shares of Customers Bancorp in a report on Wednesday, November 22nd. Finally, Boenning Scattergood downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $40.50.
Customers Bancorp (NYSE:CUBI) traded down $0.03 during trading hours on Friday, reaching $27.07. The company’s stock had a trading volume of 261,901 shares, compared to its average volume of 260,409. Customers Bancorp has a 1 year low of $24.75 and a 1 year high of $36.93. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 2.27. The firm has a market capitalization of $833.92, a price-to-earnings ratio of 9.47 and a beta of 0.62.
In related news, COO Richard A. Ehst sold 9,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $26.70, for a total transaction of $240,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert E. Wahlman sold 50,000 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $26.66, for a total value of $1,333,000.00. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of CUBI. Teachers Advisors LLC lifted its position in shares of Customers Bancorp by 7.1% in the first quarter. Teachers Advisors LLC now owns 69,276 shares of the bank’s stock valued at $2,184,000 after buying an additional 4,621 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Customers Bancorp by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 1,451,753 shares of the bank’s stock worth $45,774,000 after purchasing an additional 83,233 shares during the last quarter. Morgan Stanley lifted its holdings in Customers Bancorp by 10.7% during the 1st quarter. Morgan Stanley now owns 150,392 shares of the bank’s stock worth $4,742,000 after purchasing an additional 14,481 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Customers Bancorp by 12.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 133,625 shares of the bank’s stock worth $4,214,000 after purchasing an additional 15,216 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in Customers Bancorp by 2.5% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 17,410 shares of the bank’s stock worth $549,000 after purchasing an additional 431 shares during the last quarter. Institutional investors and hedge funds own 87.98% of the company’s stock.
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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).
To view ValuEngine’s full report, visit ValuEngine’s official website.
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