Customers Bancorp, Inc (NYSE:CUBI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Customers Bancorp, Inc (NYSE:CUBI) have been given a consensus recommendation of “Moderate Buy” by the ten analysts that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $82.8750.

Several analysts have recently commented on CUBI shares. TD Cowen raised their price target on Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 28th. Weiss Ratings restated a “hold (c+)” rating on shares of Customers Bancorp in a research report on Monday, November 24th. Cowen reiterated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Finally, DA Davidson boosted their price objective on shares of Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, October 27th.

Customers Bancorp Stock Down 0.8%

Shares of Customers Bancorp stock opened at $68.33 on Tuesday. Customers Bancorp has a one year low of $40.75 and a one year high of $72.51. The company has a market cap of $2.33 billion, a P/E ratio of 13.86 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a fifty day moving average of $66.28 and a two-hundred day moving average of $63.05.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The business had revenue of $206.82 million for the quarter. On average, analysts forecast that Customers Bancorp will post 6.45 earnings per share for the current year.

Insider Transactions at Customers Bancorp

In related news, Director Bernard Bennett Banks sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $66.93, for a total value of $602,370.00. Following the completion of the transaction, the director directly owned 7,524 shares of the company’s stock, valued at $503,581.32. This trade represents a 54.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Philip Watkins sold 2,900 shares of Customers Bancorp stock in a transaction on Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the transaction, the executive vice president directly owned 50,849 shares of the company’s stock, valued at approximately $3,307,218.96. This represents a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 83,715 shares of company stock valued at $5,695,779 in the last quarter. 6.92% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds have recently added to or reduced their stakes in CUBI. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Customers Bancorp in the third quarter valued at about $29,000. Jones Financial Companies Lllp purchased a new position in shares of Customers Bancorp during the 1st quarter worth approximately $37,000. Farther Finance Advisors LLC raised its position 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 purchasing an additional 260 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in Customers Bancorp by 451.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock valued at $61,000 after buying an additional 767 shares in the last quarter. Finally, CX Institutional acquired a new stake in Customers Bancorp during the 3rd quarter valued at $67,000. 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.