Bancorp (NYSE:CUBI) PT customers reduced to $52.00

Bancorp Customers (NYSE: CUBI – Get a rating) had its price target reduced by analysts at Stephens from $54.00 to $52.00 in a research report released on Tuesday, Target Stock Advisor reports. The brokerage currently has an “equal weight” rating on the bank’s shares. Stephens’ price target indicates a potential upside of 41.19% from the current stock price.

Other analysts have also recently released reports on the stock. Maxim Group rephrased a “buy” rating and set a target price of $85.00 on Customers Bancorp stock in a Friday, April 29 report. Jefferies Financial Group lowered its price target on Customers Bancorp stock from $63.00 to $48.00 in a Monday, July 11 report. DA Davidson reiterated a “neutral” rating on Customers Bancorp shares in a Wednesday, July 27 report. Finally, B. Riley lowered his price target on Customers Bancorp stock from $90.00 to $85.00 in a Monday, July 11 report. Four investment analysts gave the stock a hold rating and five gave the company a buy rating. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $69.57.

Bancorp Customers Trading down 1.3%

Shares of Bancorp customers traded down $0.48 at midday Tuesday, hitting $36.83. 318 shares were traded, against an average volume of 366,632. The company has a fifty-day simple moving average of $36.89 and a two-hundred-day simple moving average of $47.15. Bancorp Customers has a 52-week minimum of $32.19 and a 52-week maximum of $76.13. The stock has a market capitalization of $1.21 billion, a PE ratio of 3.72 and a beta of 1.60. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt ratio of 0.67.

Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly earnings data on Wednesday, July 27. The bank reported earnings per share of $1.68 for the quarter, missing the consensus estimate of $1.76 per ($0.08). Clients Bancorp had a return on equity of 29.54% and a net margin of 38.56%. In the same quarter a year earlier, the company posted EPS of $1.76. Equity research analysts expect Customers Bancorp to post EPS of 7.75 for the current fiscal year.

Insider activity

In other Customers Bancorp news, CEO Samvir S. Sidhu acquired 2,965 shares in a trade dated Friday, May 6. The shares were purchased at an average cost of $42.10 per share, for a total transaction of $124,826.50. Following the completion of the acquisition, the CEO now directly owns 80,637 shares of the company, valued at $3,394,817.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available via this link. Separately, Chief Financial Officer Carla A. Leibold purchased 1,000 shares in a trade that took place on Friday, May 6. The shares were acquired at an average cost of $42.10 per share, for a total transaction of $42,100.00. Following the completion of the acquisition, the CFO now owns 68,348 shares of the company, valued at $2,877,450.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, accessible via this link. Additionally, CEO Samvir S. Sidhu purchased 2,965 shares in a trade that took place on Friday, May 6. The shares were purchased at an average price of $42.10 per share, for a total transaction of $124,826.50. Following the completion of the acquisition, the CEO now owns 80,637 shares of the company, valued at approximately $3,394,817.70. Disclosure of this purchase can be found here. Insiders have acquired 4,465 shares of the company worth $186,912 over the past ninety days. Insiders hold 6.75% of the shares of the company.

Hedge funds weigh on Bancorp customers

A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. The New York State Teachers’ Retirement System increased its position in Customers Bancorp by 1.8% in the second quarter. The New York State Teachers’ Retirement System now owns 31,173 shares of the bank worth $1,057,000 after purchasing an additional 562 shares during the period. Emerald Mutual Fund Advisers Trust increased its position in Customers Bancorp by 4.6% during the second quarter. Emerald Mutual Fund Advisers Trust now owns 567,494 shares of the bank worth $19,238,000 after purchasing an additional 24,799 shares during the period. Emerald Advisers LLC increased its position in Customers Bancorp by 20.2% during the second quarter. Emerald Advisers LLC now owns 536,165 shares of the bank worth $18,176,000 after purchasing an additional 90,267 shares during the period. Foundry Partners LLC increased its position in Customers Bancorp by 73.9% during the second quarter. Foundry Partners LLC now owns 6,825 shares of the bank worth $231,000 after purchasing an additional 2,900 shares during the period. Finally, Mraz Amerine & Associates Inc. increased its position in Customers Bancorp by 14.9% during the second quarter. Mraz Amerine & Associates Inc. now owns 32,874 shares of the bank worth $1,114,000 after purchasing an additional 4,274 shares during the period. 83.48% of the shares are held by institutional investors.

Clients Company Profile Bancorp

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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.

Further reading

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