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

Customers Bancorp, Inc. (NYSE:CUBI) has earned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $62.00.

Several equities research analysts recently issued reports on CUBI shares. Jefferies Financial Group cut their price objective on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, July 3rd. DA Davidson increased their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Keefe, Bruyette & Woods dropped their price objective on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Hovde Group lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a report on Friday, August 9th. Finally, Raymond James dropped 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.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $44.47 on Monday. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The firm has a market cap of $1.40 billion, a P/E ratio of 6.21 and a beta of 1.61. The firm’s 50 day moving average price is $47.55 and its 200-day moving average price is $49.00. Customers Bancorp has a one year low of $32.39 and a one year high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The company had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. During the same quarter in the previous year, the company earned $1.65 earnings per share. The firm’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, equities research analysts predict that Customers Bancorp will post 6.11 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Samvir S. Sidhu acquired 2,500 shares of Customers Bancorp stock in a transaction dated Tuesday, August 13th. The shares were acquired at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the acquisition, the chief executive officer now owns 144,504 shares of the company’s stock, valued at $6,579,267.12. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.92% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in shares of Customers Bancorp by 1.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock valued at $107,575,000 after buying an additional 21,302 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Customers Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after purchasing an additional 111,654 shares during the last quarter. American Century Companies Inc. increased its position in shares of Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after purchasing an additional 87,557 shares in the last quarter. Hood River Capital Management LLC lifted its holdings in shares of Customers Bancorp by 94.3% in the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after purchasing an additional 266,462 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after purchasing an additional 225,785 shares during the last quarter. Hedge funds and other institutional investors 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.