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

Shares of Customers Bancorp, Inc (NYSE:CUBI) have earned a consensus rating of “Moderate Buy” from the twelve brokerages that are currently covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $87.50.

CUBI has been the subject of a number of recent research reports. Zacks Research downgraded shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Hovde Group boosted their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Stephens upgraded shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 target price for the company in a report on Monday, March 16th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st.

Insiders Place Their Bets

In other Customers Bancorp news, EVP Philip Watkins sold 3,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $75.67, for a total value of $227,010.00. Following the completion of the transaction, the executive vice president directly owned 43,993 shares in the company, valued at approximately $3,328,950.31. The trade was a 6.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Samvir S. Sidhu bought 1,000 shares of Customers Bancorp stock in a transaction on Tuesday, May 12th. The stock was purchased at an average price of $72.58 per share, with a total value of $72,580.00. Following the completion of the acquisition, the chief executive officer directly owned 521,714 shares of the company’s stock, valued at $37,866,002.12. This represents a 0.19% increase in their position. The disclosure for this purchase is available in the SEC filing. 10.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Customers Bancorp by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock worth $162,424,000 after acquiring an additional 66,031 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Customers Bancorp by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock worth $134,859,000 after acquiring an additional 65,954 shares during the last quarter. State Street Corp grew its stake in shares of Customers Bancorp by 1.8% during the fourth quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock worth $133,998,000 after acquiring an additional 32,449 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Customers Bancorp by 7.9% during the third quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after acquiring an additional 69,200 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Customers Bancorp by 3,074.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after acquiring an additional 844,141 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Performance

CUBI stock opened at $75.74 on Friday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average price of $75.55 and a 200 day moving average price of $73.78. The company has a market capitalization of $2.56 billion, a P/E ratio of 9.61 and a beta of 1.49. Customers Bancorp has a 1-year low of $51.61 and a 1-year high of $82.56.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.09. The firm had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The firm’s quarterly revenue was up 57.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.54 earnings per share. As a group, equities research analysts forecast that Customers Bancorp will post 8.52 EPS for the current fiscal year.

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.