Analysts Set Customers Bancorp, Inc (NYSE:CUBI) Price Target at $90.69

Shares of Customers Bancorp, Inc (NYSE:CUBI) have received a consensus rating of “Moderate Buy” from the twelve analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $90.7692.

Several equities research analysts recently commented on CUBI shares. JPMorgan Chase & Co. boosted their price objective on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Piper Sandler raised their target price on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, August 3rd. Fundamental Research set a $94.00 price target on Customers Bancorp in a research report on Wednesday, July 1st. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th.

Insider Buying and Selling

In other news, Chairman Jay Sidhu sold 68,821 shares of the stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total value of $5,511,873.89. Following the sale, the chairman directly owned 667,757 shares of the company’s stock, valued at approximately $53,480,658.13. This represents a 9.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 100,000 shares of company stock valued at $7,981,084 over the last 90 days. Insiders own 10.45% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors and hedge funds have recently modified their holdings of CUBI. Northwestern Mutual Wealth Management Co. lifted its position in Customers Bancorp by 247,273.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock valued at $16,279,000 after acquiring an additional 222,546 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Customers Bancorp by 213.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank’s stock worth $4,864,000 after purchasing an additional 45,299 shares in the last quarter. HighTower Advisors LLC bought a new stake in shares of Customers Bancorp in the 4th quarter worth $1,534,000. Summit Global Investments purchased a new position in shares of Customers Bancorp in the second quarter worth $1,016,000. Finally, Intech Investment Management LLC raised its stake in shares of Customers Bancorp by 255.1% in the fourth quarter. Intech Investment Management LLC now owns 120,617 shares of the bank’s stock worth $8,820,000 after purchasing an additional 86,654 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Price Performance

CUBI opened at $78.17 on Thursday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 9.53 and a beta of 1.47. The stock has a fifty day simple moving average of $79.10 and a two-hundred day simple moving average of $75.36. Customers Bancorp has a 12-month low of $59.34 and a 12-month high of $84.38.

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