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

Customers Bancorp, Inc (NYSE:CUBI) has received an average rating of “Moderate Buy” from the twelve research firms that are presently covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $90.6923.

A number of analysts have recently weighed in on CUBI shares. Piper Sandler raised their price objective on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Fundamental Research set a $94.00 price target on Customers Bancorp in a research note on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. JPMorgan Chase & Co. boosted their price target on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Finally, Morgan Stanley upped their price objective on shares of Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday, June 29th.

Customers Bancorp Stock Up 0.7%

Shares of Customers Bancorp stock opened at $83.38 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.82 billion, a P/E ratio of 10.17 and a beta of 1.49. The firm’s 50 day moving average price is $78.20 and its 200-day moving average price is $74.82. Customers Bancorp has a 52-week low of $59.34 and a 52-week high of $84.38.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The company had revenue of $227.28 million during the quarter, compared to the consensus estimate of $229.24 million. During the same period last year, the firm earned $1.80 earnings per share. Customers Bancorp’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Customers Bancorp will post 8.43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 68,821 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the transaction, the chairman owned 667,757 shares in the company, valued at approximately $53,480,658.13. This represents a 9.34% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 160,315 shares of company stock worth $12,578,896. 10.45% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently made changes to their positions in the stock. Arax Advisory Partners raised its stake in Customers Bancorp by 218.9% in 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 acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $29,000. Bessemer Group Inc. increased its holdings in Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after buying an additional 232 shares in the last quarter. Versant Capital Management Inc increased its stake in shares of Customers Bancorp by 41.0% in the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after purchasing an additional 163 shares in the last quarter. Finally, Transamerica Financial Advisors LLC raised its stake in shares of Customers Bancorp by 216.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after buying an additional 404 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Company Profile

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.