After B.Riley Financial and Jefferies gave Customers Bancorp (NYSE: CUBI) a Buy rating last month, the company received another Buy, this time from Maxim Group. Analyst Michael Diana reiterated a Buy rating on Customers Bancorp yesterday and set a price target of $27.00. The company’s shares closed last Thursday at $21.58.
According to TipRanks.com, Diana is a 4-star analyst with an average return of 3.4% and a 52.7% success rate. Diana covers the Financial sector, focusing on stocks such as First Eagle Alternative Capital BDC, First Savings Financial Group, and Westamerica Bancorporation.
Currently, the analyst consensus on Customers Bancorp is a Strong Buy with an average price target of $25.67, which is a 20.2% upside from current levels. In a report released yesterday, B.Riley Financial also maintained a Buy rating on the stock with a $26.00 price target.
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The company has a one-year high of $24.49 and a one-year low of $8.36. Currently, Customers Bancorp has an average volume of 144.8K.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CUBI in relation to earlier this year. Most recently, in November 2020, Glenn Hedde, the EVP Mortgage Warehouse Lending of CUBI sold 9,167 shares for a total of $132,188.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Customers Bancorp, Inc. operates as a bank holding company. It operates through the following segments: Customers Bank Business Banking and BankMobile. The Customers Bank Business Banking segment is delivered predominately to commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington D.C., and Illinois through a single point of contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies. The BankMobile segment provides state-of-the-art high-tech digital banking and disbursement services to consumers, students and the under banked nationwide, along with Banking as a Service offerings with existing and potential white label partners. The company was founded on April 7, 2010 and is headquartered in Wyomissing, PA.
