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Hovde Group reiterates Customers Bancorp Inc (CUBI) stock to an Outperform

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Customers Bancorp Inc’s filing revealed that its Chief Financial Officer Leibold Carla A unloaded Company’s shares for reported $1.9 million on Mar 12 ’24. In the deal valued at $53.15 per share,35,832 shares were sold. As a result of this transaction, Leibold Carla A now holds 41,224 shares worth roughly $2.04 million.

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Then, Hedde Glenn sold 666 shares, generating $36,096 in total proceeds. Upon selling the shares at $54.20, the Pres Mortgage WarehouseLending now owns 69,428 shares.

Before that, Mackay Robert Neil sold 4,000 shares. Customers Bancorp Inc shares valued at $195,576 were divested by the Director at a price of $48.89 per share. As a result of the transaction, Mackay Robert Neil now holds 4,638 shares, worth roughly $0.23 million.

Hovde Group reiterated its Customers Bancorp Inc [CUBI] rating to an Outperform in a research note published on May 02, 2024; the price target was $63. Raymond James began covering CUBI with “Strong buy” recommendation on September 29, 2023. DA Davidson revised its rating on October 28, 2022. It rated CUBI as “a Buy” which previously was an “a Neutral”.

Price Performance Review of CUBI

On Tuesday, Customers Bancorp Inc [NYSE:CUBI] saw its stock jump 3.02% to $49.51. Over the last five days, the stock has gained 2.70%. Customers Bancorp Inc shares have fallen nearly -14.07% since the year began. Nevertheless, the stocks have risen 50.58% over the past one year. While a 52-week high of $60.09 was reached on 01/02/24, a 52-week low of $31.16 was recorded on 06/11/24. SMA at 50 days reached $46.48, while 200 days put it at $47.20. A total of 0.28 million shares were traded, compared to the trading of 0.19 million shares in the previous session.

Levels Of Support And Resistance For CUBI Stock

The 24-hour chart illustrates a support level at 48.37, which if violated will result in even more drops to 47.24. On the upside, there is a resistance level at 50.08. A further resistance level may holdings at 50.66. The Relative Strength Index (RSI) on the 14-day chart is 64.17, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.23, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 2.97%. Stochastics%K at 81.57% indicates the stock is a selling.

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