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

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given a consensus recommendation of “Moderate Buy” by the nine brokerages that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $62.22.

A number of research analysts have commented on the stock. Raymond James cut their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 2nd. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Piper Sandler decreased their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Monday, November 4th. Wedbush cut 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 research report on Tuesday, September 24th. Finally, B. Riley lifted their price objective on Customers Bancorp from $78.00 to $80.00 and gave the company a “buy” rating in a report on Monday, November 4th.

Customers Bancorp Stock Down 0.3 %

Shares of CUBI stock opened at $53.36 on Tuesday. 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 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a fifty day moving average price of $51.30 and a 200 day moving average price of $50.45. The stock has a market cap of $1.67 billion, a P/E ratio of 8.66 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data 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). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the prior year, the company posted $2.59 EPS. The company’s quarterly revenue was down 23.2% compared to the same quarter last year. Analysts predict that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now directly owns 66,256 shares in the company, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 860 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $54.73, for a total value of $47,067.80. Following the sale, the chief executive officer now owns 1,189,738 shares of the company’s stock, valued at approximately $65,114,360.74. The trade was a 0.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,440 shares of company stock worth $5,425,815. Insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CUBI. CWM LLC boosted its stake in Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after acquiring an additional 274 shares during the last quarter. GAMMA Investing LLC increased its holdings in Customers Bancorp by 21.7% in the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after purchasing an additional 282 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Customers Bancorp by 2.1% in the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock valued at $686,000 after buying an additional 300 shares during the period. SummerHaven Investment Management LLC boosted its holdings in Customers Bancorp by 1.7% during the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock worth $994,000 after buying an additional 341 shares during the last quarter. Finally, Mackenzie Financial Corp grew its position in shares of Customers Bancorp by 10.4% during the 2nd quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock worth $281,000 after buying an additional 549 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.