Customers Bancorp, Inc (NYSE:CUBI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Customers Bancorp, Inc (NYSE:CUBI) have received a consensus rating of “Moderate Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $89.6154.

A number of brokerages have recently weighed in on CUBI. JPMorgan Chase & Co. increased their target price on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Fundamental Research set a $94.00 price target on Customers Bancorp in a research note on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. Hovde Group increased their price objective on Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th. Finally, Piper Sandler lifted their target price on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, June 26th.

Customers Bancorp Price Performance

Shares of CUBI opened at $78.15 on Wednesday. The company’s 50-day moving average is $76.08 and its 200-day moving average is $74.42. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $2.64 billion, a PE ratio of 9.92 and a beta of 1.48. Customers Bancorp has a fifty-two week low of $59.34 and a fifty-two week high of $82.56.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The business had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. During the same quarter in the prior year, the business earned $1.54 EPS. Customers Bancorp’s quarterly revenue was up 57.9% on a year-over-year basis. Equities analysts forecast that Customers Bancorp will post 8.35 EPS for the current year.

Insider Buying and Selling

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 1,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $72.58 per share, with a total value of $72,580.00. Following the completion of the acquisition, the chief executive officer owned 521,714 shares of the company’s stock, valued at $37,866,002.12. This trade represents a 0.19% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Jay S. Sidhu sold 60,315 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the completion of the sale, the chairman owned 767,557 shares of the company’s stock, valued at approximately $58,510,870.11. The trade was a 7.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 10.45% of the stock is owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

A number of large investors have recently added to or reduced their stakes in CUBI. Arax Advisory Partners raised its holdings in Customers Bancorp by 218.9% in the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after acquiring an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth $29,000. Bessemer Group Inc. increased its position in shares of Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after purchasing an additional 232 shares during the period. Jones Financial Companies Lllp acquired a new position in Customers Bancorp in the first quarter valued at about $37,000. Finally, Transamerica Financial Advisors LLC lifted its position in Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after purchasing an additional 404 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.