Customers Bancorp, Inc. (NYSE:CUBI) Receives $62.22 Consensus PT from Analysts

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $62.22.

CUBI has been the subject of a number of research analyst reports. StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Raymond James cut their price target on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler reduced their target price on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a report on Monday, November 4th. Keefe, Bruyette & Woods lifted their price objective on Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, B. Riley upped their price objective on Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, November 4th.

Customers Bancorp Stock Up 0.6 %

Shares of Customers Bancorp stock opened at $45.88 on Friday. Customers Bancorp has a 1 year low of $42.31 and a 1 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 market cap of $1.44 billion, a price-to-earnings ratio of 7.45 and a beta of 1.65. The firm’s 50-day moving average is $52.06 and its two-hundred day moving average is $50.92.

Customers Bancorp (NYSE:CUBI) last posted its 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 for the quarter, compared to analysts’ expectations of $191.61 million. Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm’s quarterly revenue was down 23.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.59 EPS. As a group, research analysts expect that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other news, CEO Jay S. Sidhu sold 860 shares of Customers Bancorp stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. This represents a 7.02 % 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. Corporate insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

A number of large investors have recently made changes to their positions in the company. Basswood Capital Management L.L.C. acquired a new position in Customers Bancorp in the third quarter valued at $26,000. GAMMA Investing LLC increased its holdings in shares of Customers Bancorp by 21.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the period. Quest Partners LLC raised its position in Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock valued at $76,000 after purchasing an additional 962 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in Customers Bancorp during the 3rd quarter worth $84,000. Finally, CWM LLC grew its holdings in shares of Customers Bancorp by 14.2% during the third 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. 89.29% of the stock is currently owned by hedge funds and other 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.