Customers Bancorp, Inc. (NYSE:CUBI) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been assigned a consensus rating of “Moderate Buy” from the nine ratings firms that are presently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $61.11.

CUBI has been the subject of a number of recent analyst reports. Stephens raised their price objective on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. Piper Sandler cut their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their price objective for the stock from $79.00 to $53.00 in a research report on Tuesday, September 24th. Raymond James dropped their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Finally, B. Riley lifted their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th.

Customers Bancorp Stock Up 3.0 %

Shares of CUBI stock opened at $55.55 on Friday. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 9.02 and a beta of 1.61. Customers Bancorp has a 12-month low of $42.31 and a 12-month high of $68.49. The firm has a fifty day moving average of $48.16 and a 200-day moving average of $49.42. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). The business had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. Customers Bancorp’s revenue was down 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.59 earnings per share. As a group, equities research analysts predict that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the sale, the insider now directly owns 66,256 shares in the company, valued at $3,556,622.08. This represents a 7.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jay S. Sidhu sold 86,578 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the completion of the transaction, the chief executive officer now directly owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. This represents a 7.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,440 shares of company stock valued at $5,210,695 in the last quarter. Company insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

Several large investors have recently made changes to their positions in the company. Basswood Capital Management L.L.C. bought a new position in Customers Bancorp in the third quarter valued at about $26,000. Ridgewood Investments LLC bought a new stake in shares of Customers Bancorp during the 2nd quarter valued at approximately $48,000. GAMMA Investing LLC increased its position in Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after purchasing an additional 282 shares in the last quarter. Innealta Capital LLC bought a new position in Customers Bancorp in the 2nd quarter valued at approximately $74,000. Finally, Quest Partners LLC boosted its position in Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after buying an additional 962 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.