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

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

Customers Bancorp Trading Down 1.3%

Shares of Customers Bancorp fell $0.48 on Tuesday afternoon to hit $36.83. 318 shares of the stock were exchanged compared to an average volume of 366,632. The company has a 50-day simple moving average of $36.89 and a 200-day simple moving average of $47.15. Customers Bancorp has a 52-week low of $32.19 and a 52-week high of $76.13. The stock has a market cap of $1.21 billion, a P/E 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 to equity ratio of 0.67.

Clients Bancorp (NYSE:CUBI – received 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 ($0.08). Clients Bancorp had a return on equity of 29.54% and a net margin of 38.56%. In the same quarter last year, the company posted $1.76 per share. Equity analysts expect Customers Bancorp to post 7.75 EPS for the current fiscal year.

insider activity

In other news from Customers Bancorp, CEO Samvir S. Sidhu acquired 2,965 shares of the stock in a transaction on Friday, May 6th. The shares were purchased at an average price of $42.10 per share for a total transaction of $124,826.50. Upon completion of the acquisition, the Chief Executive Officer 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 at this link. In other news, CFO Carla A. Leibold bought 1,000 shares of the stock in a transaction that took place on Friday, May 6th. The shares were acquired at an average price of $42.10 per share for a total transaction of $42,100.00. Upon completion of the acquisition, the Chief Financial Officer 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, available at this link. Also, CEO Samvir S. Sidhu purchased 2,965 shares of the stock in a transaction that took place on Friday, May 6th. The shares were purchased at an average price of $42.10 per share for a total transaction of $124,826.50. Upon completion of the acquisition, the Chief Executive Officer now owns 80,637 shares of the Company, valued at approximately $3,394,817.70. The disclosure for this purchase can be found here. Insiders have purchased 4,465 shares of the company’s shares worth $186,912 over the past ninety days. Insiders own 6.75% of the company’s stock.

Hedge funds are pushing for clients Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their holdings in the stock. 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, valued at $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% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 567,494 shares of the bank valued at $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 valued at $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% in the second quarter. Foundry Partners LLC now owns 6,825 shares of the bank, valued at $231,000, having purchased 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 valued at $1,114,000 after purchasing an additional 4,274 shares during the period. 83.48% of the shares are owned by institutional investors.

Clients Bancorp Company Profile

(received rating)

Customers Bancorp, Inc acts as the banking holding company for Customers Bank, which provides financial products and services to consumers and small and medium sized businesses. The Company offers deposit products including checking, savings, MMDA and other deposit accounts. It offers lending products including commercial mortgage inventory loans, multi-family and commercial real estate loans, commercial banks, small business loans, equipment financing, residential mortgage loans and personal loans.

Further reading

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