Customers Bancorp (NYSE:CUBI) Price Target Raised to $80.00

Customers Bancorp (NYSE:CUBI) had its price objective lifted by B. Riley from $78.00 to $80.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have a buy rating on the bank’s stock. B. Riley also issued estimates for Customers Bancorp’s Q4 2024 earnings at $1.39 EPS and FY2025 earnings at $7.23 EPS.

CUBI has been the subject of a number of other research reports. Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $57.00 to $52.00 in a report on Monday. DA Davidson lifted their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Raymond James dropped their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective on the stock. in a report on Friday, August 9th. Finally, Piper Sandler lowered their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.88.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $55.50 on Monday. The stock has a 50 day moving average price of $47.19 and a 200 day moving average price of $48.97. Customers Bancorp has a 52-week low of $40.61 and a 52-week high of $68.49. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market capitalization of $1.76 billion, a P/E ratio of 9.01 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). The business had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The business’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.59 EPS. As a group, sell-side analysts predict that Customers Bancorp will post 6.11 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu purchased 2,500 shares of Customers Bancorp stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $45.53 per share, with a total value of $113,825.00. Following the transaction, the chief executive officer now owns 144,504 shares in the company, valued at approximately $6,579,267.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC lifted its position in Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after acquiring an additional 274 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after purchasing an additional 282 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Customers Bancorp by 2.1% in the 2nd quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock worth $686,000 after purchasing an additional 300 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Customers Bancorp by 1.7% in the 2nd quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock worth $994,000 after purchasing an additional 341 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its stake in Customers Bancorp by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock worth $1,314,000 after buying an additional 353 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.