Customers Bancorp (NYSE:CUBI) Hits New 12-Month High – Should You Buy?

Customers Bancorp, Inc (NYSE:CUBI) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $84.38 and last traded at $84.09, with a volume of 31928 shares. The stock had previously closed at $82.79.

Analysts Set New Price Targets

A number of brokerages have weighed in on CUBI. Piper Sandler lifted their price objective on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Fundamental Research set a $94.00 price target on Customers Bancorp in a report on Wednesday, July 1st. Morgan Stanley raised their price target on Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a report on Monday, June 29th. Keefe, Bruyette & Woods lifted their price target on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research note on Monday, August 3rd. Finally, DA Davidson increased their price objective on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.69.

Customers Bancorp Trading Up 1.4%

The stock has a market cap of $2.84 billion, a PE ratio of 10.24 and a beta of 1.49. The business’s fifty day moving average is $78.03 and its 200 day moving average is $74.75. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $229.24 million. During the same period last year, the company posted $1.80 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, Chairman Jay S. Sidhu sold 68,821 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chairman directly owned 667,757 shares of the company’s stock, valued at $53,480,658.13. This trade represents a 9.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last 90 days, insiders sold 160,315 shares of company stock valued at $12,578,896. Corporate insiders own 10.45% of the company’s stock.

Institutional Trading of Customers Bancorp

Large investors have recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Customers Bancorp in the second quarter valued at $385,165,000. Vanguard Group Inc. raised its stake in shares of Customers Bancorp by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock worth $162,424,000 after buying an additional 66,031 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Customers Bancorp by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock worth $134,859,000 after buying an additional 65,954 shares in the last quarter. State Street Corp boosted its position in shares of Customers Bancorp by 1.8% in the 4th quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock worth $133,998,000 after buying an additional 32,449 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Customers Bancorp by 3,074.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock valued at $63,732,000 after acquiring an additional 844,141 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.