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

Customers Bancorp, Inc. (NYSE:CUBI) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, three 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 updated their coverage on the stock in the last year is $62.22.

A number of equities research analysts have recently commented on CUBI shares. Piper Sandler lowered their price objective 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. Raymond James lowered their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. 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 research report on Monday, November 4th. Finally, StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st.

Customers Bancorp Stock Down 3.4 %

Shares of NYSE:CUBI opened at $45.50 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $1.43 billion, a P/E ratio of 7.39 and a beta of 1.68. Customers Bancorp has a 52-week low of $42.31 and a 52-week high of $68.49. The stock’s fifty day simple moving average is $52.07 and its 200-day simple moving average is $50.87.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). The firm had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. Customers Bancorp’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same quarter last year, the company posted $2.59 earnings per share. As a group, equities research analysts forecast that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Activity at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 86,578 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the transaction, the chief executive officer now owns 1,090,598 shares in the company, valued at approximately $61,662,410.92. The trade was a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert Neil Mackay sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the transaction, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 96,440 shares of company stock worth $5,425,815. 6.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in CUBI. Basswood Capital Management L.L.C. acquired a new stake in Customers Bancorp during the third quarter worth about $26,000. GAMMA Investing LLC raised its position 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 worth $73,000 after purchasing an additional 282 shares during the period. Quest Partners LLC raised its position in shares of Customers Bancorp by 143.4% during the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the period. Point72 DIFC Ltd acquired a new position in Customers Bancorp during the 3rd quarter valued at approximately $84,000. Finally, CWM LLC grew its stake in Customers Bancorp by 14.2% during the 3rd quarter. CWM LLC now owns 2,198 shares of the bank’s stock worth $102,000 after buying an additional 274 shares during the last quarter. Institutional investors and hedge funds 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.