Customers Bancorp (NYSE:CUBI) Upgraded to Buy at Wall Street Zen

Customers Bancorp (NYSE:CUBI) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday.

Other research analysts have also issued research reports about the company. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 price target on shares of Customers Bancorp in a research report on Tuesday, January 6th. Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a research report on Monday, October 27th. Keefe, Bruyette & Woods upped their price objective on Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. Stephens increased their target price on Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 28th. Finally, National Bankshares set a $89.00 price target on Customers Bancorp in a research note on Wednesday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Customers Bancorp presently has a consensus rating of “Moderate Buy” and a consensus target price of $84.80.

Customers Bancorp Trading Down 0.3%

Shares of CUBI stock opened at $78.53 on Friday. The business has a 50-day moving average price of $72.35 and a two-hundred day moving average price of $68.11. Customers Bancorp has a 12-month low of $40.75 and a 12-month high of $79.99. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.67. The firm has a market cap of $2.68 billion, a P/E ratio of 15.93 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, October 23rd. The bank reported $2.20 EPS for the quarter, beating the consensus estimate of $1.90 by $0.30. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The company had revenue of $231.77 million for the quarter, compared to analyst estimates of $185.10 million. During the same quarter last year, the firm earned $1.34 EPS. Equities analysts anticipate that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, Director Bernard Bennett Banks sold 9,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the transaction, the director directly owned 7,524 shares of the company’s stock, valued at approximately $503,581.32. This trade represents a 54.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Jay S. Sidhu sold 128,185 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the sale, the chief executive officer directly owned 790,031 shares of the company’s stock, valued at $54,851,852.33. The trade was a 13.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 211,900 shares of company stock worth $14,595,664 in the last ninety days. Insiders own 8.69% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in CUBI. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp during the third quarter valued at approximately $29,000. Farther Finance Advisors LLC boosted its stake in shares of Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock worth $44,000 after acquiring an additional 260 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp during the 1st quarter valued at $37,000. Aster Capital Management DIFC Ltd increased its stake in shares of Customers Bancorp by 451.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after purchasing an additional 767 shares in the last quarter. Finally, CX Institutional bought a new position in Customers Bancorp in the 3rd quarter worth $67,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.