Customers Bancorp, Inc. (NYSE:CUBI) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $64.00.

CUBI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday, January 27th. Piper Sandler reduced their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Maxim Group raised their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. B. Riley raised 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. Finally, Stephens restated an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th.

Customers Bancorp Stock Up 1.7 %

Shares of NYSE CUBI opened at $54.02 on Friday. Customers Bancorp has a one year low of $42.31 and a one year high of $68.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. The firm’s 50 day simple moving average is $52.51 and its two-hundred day simple moving average is $50.73. The stock has a market capitalization of $1.69 billion, a P/E ratio of 10.63 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating the consensus estimate of $1.21 by $0.15. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. As a group, analysts expect that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Insider Activity

In related news, CEO Jay S. Sidhu sold 67,000 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $56.82, for a total transaction of $3,806,940.00. Following the sale, the chief executive officer now directly owns 965,723 shares in the company, valued at $54,872,380.86. The trade was a 6.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Glenn Hedde sold 15,815 shares of the business’s stock in a transaction on Thursday, January 30th. The shares were sold at an average price of $58.25, for a total transaction of $921,223.75. Following the sale, the insider now owns 55,211 shares in the company, valued at approximately $3,216,040.75. This trade represents a 22.27 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,988 shares of company stock valued at $6,627,318. Corporate insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CUBI. Intech Investment Management LLC increased its position in Customers Bancorp by 74.2% during the 3rd quarter. Intech Investment Management LLC now owns 25,349 shares of the bank’s stock valued at $1,177,000 after buying an additional 10,797 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of Customers Bancorp by 117.9% in the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock worth $1,878,000 after acquiring an additional 21,871 shares during the last quarter. Walleye Capital LLC increased its holdings in shares of Customers Bancorp by 536.3% during the third quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock valued at $1,786,000 after acquiring an additional 32,407 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Customers Bancorp by 2.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 509,469 shares of the bank’s stock worth $23,665,000 after purchasing an additional 12,000 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Customers Bancorp by 46.9% in the 3rd quarter. Barclays PLC now owns 89,879 shares of the bank’s stock worth $4,175,000 after purchasing an additional 28,683 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.