Clients Bancorp, Inc. (NYSE: CUBI) Receives an Average “Buy” Rating from Brokerages
Bancorp, Inc. Client Stocks (NYSE: CUBI – Get a rating) received an average “Buy” recommendation from the ten analysts who currently cover the company, reports Marketbeat.com. Four investment analysts rated the stock with a hold recommendation and four gave the company a buy recommendation. The 1-year average target price among brokers who have reported on the stock in the past year is $69.31.
CUBI has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded Customers Bancorp from a “market performer” rating to an “outperformer” rating and raised their price target for the company from $72.00 to $80.00 in a Monday, March 28 report. StockNews.com launched a coverage on Customers Bancorp in a Thursday, March 31 report. They issued a “hold” rating for the company. Zacks Investment Research moved Customers Bancorp from a “hold” rating to a “buy” rating and set a price target of $48.00 for the company in a Friday, May 6 report. Maxim Group reissued a “buy” rating and posted a price target of $85.00 on Customers Bancorp stock in a Friday, April 29 report. Finally, Wedbush raised its price target on Customers Bancorp from $75.00 to $80.00 in a Wednesday, January 26 research note.
Separately, CEO Samvir S. Sidhu purchased 2,965 shares of the company in a trade on Friday, May 6. The stock was purchased at an average price of $42.10 per share, with a total value of $124,826.50. Following completion of the transaction, the CEO now owns 80,637 shares of the company, valued at approximately $3,394,817.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available via the SEC website. Additionally, Chief Financial Officer Carla A. Leibold purchased 1,000 shares of the company in a transaction on Friday, May 6. The shares were purchased at an average cost of $42.10 per share, with a total value of $42,100.00. Following the transaction, the CFO now directly owns 68,348 shares of the company, valued at approximately $2,877,450.80. Disclosure of this purchase can be found here. Insiders have acquired 4,465 shares of the company valued at $186,912 over the past three months. 10.23% of the shares are currently held by insiders of the company.
Several hedge funds have recently bought and sold shares of CUBI. Victory Capital Management Inc. increased its holdings of Customers Bancorp stock by 501.5% during the fourth quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank worth $37,288,000 after purchasing an additional 475,590 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings of Customers Bancorp shares by 258.6% during the fourth quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank worth $34,032,000 after buying 375,419 additional shares in the last quarter. Emerald Advisers LLC increased its holdings of Customers Bancorp stock by 4,060.0% during the fourth quarter. Emerald Advisers LLC now owns 333,636 shares of the bank worth $21,810,000 after purchasing an additional 325,616 shares in the last quarter. Toroso Investments LLC acquired a new stake in shares of Customers Bancorp during the fourth quarter at a value of $14,603,000. Finally, Kornitzer Capital Management Inc. KS acquired a new stake in Customers Bancorp stock during the fourth quarter at a value of $13,336,000. Institutional investors and hedge funds hold 83.48% of the company’s shares.
CUBI opened at $38.44 on Thursday. The company has a debt ratio of 0.15, a current ratio of 0.81 and a quick ratio of 0.81. The company has a 50-day simple moving average of $48.76 and a 200-day simple moving average of $56.71. The stock has a market capitalization of $1.27 billion, a P/E ratio of 3.84 and a beta of 1.58. Bancorp Clients has a 12-month low of $33.25 and a 12-month high of $76.13.
About Bancorp Customers (Get a rating)
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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