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

Shares of Customers Bancorp, Inc (NYSE:CUBI) have been given an average rating of “Moderate Buy” by the twelve brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $90.6923.

Several research firms have recently issued reports on CUBI. Piper Sandler lifted their target price on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, June 26th. DA Davidson upped their price target on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. lifted their price objective on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. Finally, Hovde Group boosted their target price on Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th.

Insider Activity

In other news, Chairman Jay S. Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction dated 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 owned 667,757 shares of the company’s stock, valued at $53,480,658.13. The trade was a 9.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders sold 160,315 shares of company stock valued at $12,578,896. 10.45% of the stock is owned by insiders.

Institutional Trading of Customers Bancorp

Institutional investors and hedge funds have recently bought and sold shares of the company. Arax Advisory Partners raised its holdings in Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after buying an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Customers Bancorp during the third quarter valued at approximately $29,000. Bessemer Group Inc. grew its holdings in shares of Customers Bancorp by 78.4% during 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 during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp during the first quarter valued at approximately $37,000. Finally, Transamerica Financial Advisors LLC increased its position in shares of Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after acquiring an additional 404 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Up 0.3%

Shares of Customers Bancorp stock opened at $83.64 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. The company has a 50-day moving average of $78.39 and a 200 day moving average of $74.88. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of 10.20 and a beta of 1.49. Customers Bancorp has a 1 year low of $59.34 and a 1 year high of $84.38.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $2.00 by $0.05. The business had revenue of $227.28 million for the quarter, compared to analyst estimates of $229.24 million. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. Customers Bancorp’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.80 earnings per share. As a group, sell-side analysts anticipate 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.