Customers Bancorp, Inc (NYSE:CUBI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Customers Bancorp, Inc (NYSE:CUBI) have received a consensus rating of “Moderate Buy” from the ten brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, three have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $87.80.

Several research analysts recently commented on the company. Raymond James Financial reiterated a “strong-buy” rating and issued a $95.00 price target on shares of Customers Bancorp in a research report on Tuesday, January 6th. TD Cowen reiterated a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Stephens downgraded Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 target price on the stock. in a research report on Friday, February 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Customers Bancorp in a report on Monday, December 29th. Finally, Wall Street Zen lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Jay S. Sidhu sold 128,185 shares of the firm’s stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total value of $8,899,884.55. Following the completion of the transaction, the chief executive officer owned 790,031 shares of the company’s stock, valued at approximately $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Philip Watkins sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $65.04, for a total value of $188,616.00. Following the completion of the sale, the executive vice president owned 50,849 shares in the company, valued at approximately $3,307,218.96. This represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 138,564 shares of company stock valued at $9,612,479 over the last 90 days. 8.69% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada boosted its position in shares of Customers Bancorp by 11.5% during the 1st quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after acquiring an additional 553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Customers Bancorp by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock worth $885,000 after purchasing an additional 786 shares during the period. Millennium Management LLC boosted its holdings in Customers Bancorp by 71.4% in the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock valued at $13,791,000 after purchasing an additional 114,430 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Customers Bancorp in the 1st quarter valued at approximately $37,000. Finally, Concurrent Investment Advisors LLC increased its holdings in shares of Customers Bancorp by 4.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock worth $327,000 after buying an additional 243 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Up 1.4%

CUBI stock opened at $72.64 on Friday. The firm has a fifty day moving average price of $75.89 and a 200 day moving average price of $69.93. Customers Bancorp has a fifty-two week low of $40.75 and a fifty-two week high of $82.56. The firm has a market cap of $2.48 billion, a PE ratio of 11.72 and a beta of 1.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, beating the consensus estimate of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The business had revenue of $236.90 million during the quarter, compared to analyst estimates of $200.38 million. During the same quarter last year, the business earned $1.36 earnings per share. Sell-side analysts anticipate that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to purchase up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

About Customers Bancorp

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.