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

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $61.11.

Several equities research analysts recently commented on the company. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their target price for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods downgraded shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $57.00 to $52.00 in a research report on Monday, November 4th. Stephens boosted their target price on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Monday, November 11th. B. Riley raised their price target 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, Piper Sandler dropped their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th.

Insider Transactions at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 86,578 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the completion of the sale, the chief executive officer now owns 1,090,598 shares in the company, valued at $61,662,410.92. This represents a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This represents a 7.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,440 shares of company stock valued at $5,210,695 over the last three months. Corporate insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its holdings in Customers Bancorp by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock worth $107,575,000 after acquiring an additional 21,302 shares during the period. Vanguard Group Inc. increased its position in shares of Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock valued at $116,038,000 after purchasing an additional 111,654 shares during the last quarter. State Street Corp raised its stake in shares of Customers Bancorp by 10.5% during the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock worth $82,773,000 after purchasing an additional 169,982 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Customers Bancorp by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 687,130 shares of the bank’s stock worth $31,924,000 after buying an additional 17,941 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock valued at $32,954,000 after buying an additional 87,557 shares during the period. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Stock Up 3.0 %

Shares of CUBI opened at $55.55 on Friday. The company has a market capitalization of $1.74 billion, a PE ratio of 9.02 and a beta of 1.61. The stock’s 50-day moving average price is $48.16 and its two-hundred day moving average price is $49.42. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. Customers Bancorp has a 12 month low of $42.31 and a 12 month high of $68.49.

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 the consensus estimate of $1.43 by ($0.09). The firm 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%. Customers Bancorp’s quarterly revenue was down 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.59 EPS. On average, analysts anticipate that Customers Bancorp will post 5.63 EPS for the current 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.