Customers Bancorp (NYSE:CUBI) Price Target Raised to $95.00

Customers Bancorp (NYSE:CUBI) had its price objective raised by DA Davidson from $93.00 to $95.00 in a research report report published on Monday morning, Marketbeat Ratings reports. The firm currently has a buy rating on the bank’s stock.

CUBI has been the subject of a number of other research reports. B. Riley reiterated a “buy” rating on shares of Customers Bancorp in a research note on Monday. Stephens lifted their target price on shares of Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Morgan Stanley began coverage on shares of Customers Bancorp in a research note on Monday, December 8th. They set an “equal weight” rating and a $90.00 price target for the company. Zacks Research downgraded shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $87.50.

Customers Bancorp Price Performance

Shares of CUBI opened at $76.50 on Monday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00. Customers Bancorp has a 1-year low of $40.75 and a 1-year high of $82.56. The stock has a market cap of $2.61 billion, a PE ratio of 12.34 and a beta of 1.61. The firm has a fifty day moving average price of $74.14 and a 200 day moving average price of $68.88.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.04 by $0.02. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.The company had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. During the same quarter last year, the company posted $1.36 earnings per share. As a group, sell-side analysts anticipate that Customers Bancorp will post 6.45 EPS for the current year.

Insider Transactions at Customers Bancorp

In related news, EVP Philip Watkins sold 2,900 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $65.04, for a total transaction of $188,616.00. Following the completion of the transaction, the executive vice president directly owned 50,849 shares of the company’s stock, valued at $3,307,218.96. This represents a 5.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jay S. Sidhu sold 128,185 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the completion of the sale, the chief executive officer owned 790,031 shares of the company’s stock, valued at approximately $54,851,852.33. The trade was a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 211,900 shares of company stock worth $14,595,664. Company insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

A number of large investors have recently modified their holdings of the business. Arizona State Retirement System grew its stake in shares of Customers Bancorp by 1.8% during the third quarter. Arizona State Retirement System now owns 8,879 shares of the bank’s stock valued at $580,000 after acquiring an additional 155 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of Customers Bancorp by 0.5% in the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock worth $2,226,000 after acquiring an additional 182 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in Customers Bancorp by 4.2% in the second quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank’s stock valued at $267,000 after purchasing an additional 185 shares during the last quarter. Concurrent Investment Advisors LLC grew its stake in Customers Bancorp by 4.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock valued at $327,000 after purchasing an additional 243 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Customers Bancorp by 0.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 80,896 shares of the bank’s stock valued at $4,752,000 after purchasing an additional 244 shares in the last quarter. 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.