Customers Bancorp (NYSE:CUBI) Hits New 1-Year High After Analyst Upgrade

Customers Bancorp, Inc (NYSE:CUBI) reached a new 52-week high on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $88.00 to $89.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Customers Bancorp traded as high as $82.79 and last traded at $82.8890, with a volume of 111579 shares traded. The stock had previously closed at $80.55.

A number of other brokerages also recently commented on CUBI. Hovde Group boosted their target price on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. Fundamental Research set a $94.00 price target on Customers Bancorp in a research note on Wednesday, July 1st. Piper Sandler raised their price objective on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Finally, DA Davidson increased their price target on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.69.

Insider Activity

In related news, EVP Philip Watkins sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $75.67, for a total value of $227,010.00. Following the transaction, the executive vice president directly owned 43,993 shares of the company’s stock, valued at approximately $3,328,950.31. This trade represents a 6.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Samvir S. Sidhu bought 1,000 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price 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 in the company, valued at approximately $37,866,002.12. The trade was a 0.19% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders have sold 94,494 shares of company stock valued at $7,294,032. Insiders own 10.45% of the company’s stock.

Institutional Trading of Customers Bancorp

Several large investors have recently modified their holdings of the company. Arax Advisory Partners lifted its position in Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after acquiring an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new position in shares of Customers Bancorp in the third quarter worth about $29,000. Bessemer Group Inc. lifted its position in shares of Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock worth $37,000 after purchasing an additional 232 shares during the last quarter. Versant Capital Management Inc lifted its position in shares of Customers Bancorp by 41.0% during the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock worth $44,000 after purchasing an additional 163 shares during the last quarter. Finally, Transamerica Financial Advisors LLC boosted its stake in Customers Bancorp by 216.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after purchasing an additional 404 shares during the period. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Stock Performance

The stock has a market cap of $2.81 billion, a P/E ratio of 10.12 and a beta of 1.49. The firm has a 50 day moving average of $76.93 and a two-hundred day moving average of $74.55. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The company had revenue of $227.28 million for the quarter, compared to the consensus estimate of $229.24 million. During the same period in the previous year, the business posted $1.80 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, research analysts predict that Customers Bancorp, Inc will post 8.43 EPS for the current fiscal year.

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.