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

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $62.00.

CUBI has been the topic of a number of research analyst reports. Raymond James dropped their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday. Wedbush downgraded shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. DA Davidson boosted their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Friday, August 9th. Finally, Jefferies Financial Group cut their price target on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd.

Customers Bancorp Stock Down 0.3 %

Shares of CUBI stock opened at $44.22 on Thursday. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75. Customers Bancorp has a 52 week low of $31.16 and a 52 week high of $68.49. The company’s fifty day simple moving average is $50.78 and its two-hundred day simple moving average is $49.74. The stock has a market cap of $1.39 billion, a P/E ratio of 6.18 and a beta of 1.62.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. The company had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. Customers Bancorp’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. Analysts predict that Customers Bancorp will post 6.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the purchase, the chief executive officer now directly owns 144,504 shares in the company, valued at $6,579,267.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.92% of the stock is owned by insiders.

Institutional Trading of Customers Bancorp

Several large investors have recently made changes to their positions in CUBI. Wedge Capital Management L L P NC acquired a new position in Customers Bancorp in the second quarter valued at approximately $2,508,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Customers Bancorp in the first quarter valued at approximately $4,266,000. Intech Investment Management LLC purchased a new position in Customers Bancorp during the 2nd quarter worth $698,000. SG Americas Securities LLC increased its position in Customers Bancorp by 208.5% in the 1st quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock valued at $1,148,000 after acquiring an additional 14,621 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Customers Bancorp during the first quarter worth $1,333,000. 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.