Customers Bancorp (NYSE:CUBI) Sets New 1-Year High – Still a Buy?

Customers Bancorp, Inc (NYSE:CUBI)’s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $74.57 and last traded at $73.5450, with a volume of 376944 shares trading hands. The stock had previously closed at $72.98.

Analyst Upgrades and Downgrades

CUBI has been the topic of several research reports. TD Cowen boosted their price target on Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, October 27th. National Bankshares set a $89.00 price target on shares of Customers Bancorp in a research report on Wednesday, September 24th. Hovde Group raised their price target on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Morgan Stanley assumed coverage on shares of Customers Bancorp in a research note on Monday, December 8th. They issued an “equal weight” rating and a $90.00 price objective on the stock. Finally, Wall Street Zen lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Customers Bancorp Trading Up 1.9%

The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 15.12 and a beta of 1.61. The firm’s fifty day moving average is $67.76 and its 200-day moving average is $64.62.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The firm had revenue of $206.82 million during the quarter. Equities analysts anticipate that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, Director Bernard Bennett Banks sold 9,000 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $66.93, for a total value of $602,370.00. Following the completion of the sale, the director directly owned 7,524 shares in the company, valued at approximately $503,581.32. This trade represents a 54.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jay S. Sidhu sold 128,185 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the transaction, the chief executive officer owned 790,031 shares in the company, valued at $54,851,852.33. This represents a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 211,900 shares of company stock valued at $14,595,664. 8.69% of the stock is currently owned by company insiders.

Institutional Trading of Customers Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Arizona State Retirement System raised its position in Customers Bancorp by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 8,879 shares of the bank’s stock worth $580,000 after purchasing an additional 155 shares during the period. Alliancebernstein L.P. grew its stake in shares of Customers Bancorp by 0.5% during the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock valued at $2,226,000 after buying an additional 182 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in shares of Customers Bancorp by 4.2% in the second quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank’s stock worth $267,000 after buying an additional 185 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of Customers Bancorp by 5.3% in the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank’s stock worth $222,000 after buying an additional 223 shares during the period. Finally, Concurrent Investment Advisors LLC lifted its stake in shares of Customers Bancorp by 4.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock valued at $327,000 after acquiring an additional 243 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.