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

Customers Bancorp, Inc. (NYSE:CUBI) has received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $62.22.

CUBI has been the topic of several analyst reports. Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Piper Sandler decreased their target price on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, Raymond James decreased their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research report on Wednesday, October 2nd.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Jay S. Sidhu sold 86,578 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the transaction, the chief executive officer now owns 1,090,598 shares in the company, valued at $61,662,410.92. This trade represents a 7.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the sale, the insider now owns 66,256 shares of the company’s stock, valued at $3,556,622.08. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,440 shares of company stock valued at $5,425,815 in the last three months. Insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CUBI. Dimensional Fund Advisors LP increased its stake in shares of Customers Bancorp by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after purchasing an additional 21,302 shares during the period. State Street Corp boosted its position in shares of Customers Bancorp by 10.5% in the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after acquiring an additional 169,982 shares during the period. Geode Capital Management LLC grew its stake in shares of Customers Bancorp by 2.7% in the third quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock worth $31,924,000 after acquiring an additional 17,941 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after purchasing an additional 87,557 shares during the period. Finally, Hood River Capital Management LLC raised its position in shares of Customers Bancorp by 94.3% during the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after buying an additional 266,462 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Price Performance

NYSE CUBI opened at $53.36 on Tuesday. Customers Bancorp has a 1 year low of $42.31 and a 1 year high of $68.49. The business’s fifty day moving average is $51.30 and its two-hundred day moving average is $50.45. The stock has a market capitalization of $1.67 billion, a P/E ratio of 8.66 and a beta of 1.65. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last released its quarterly 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 company had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company’s revenue for the quarter was down 23.2% compared to the same quarter last year. During the same quarter last year, the business earned $2.59 EPS. On average, research analysts forecast that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

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.