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

Customers Bancorp, Inc (NYSE:CUBI) has earned a consensus recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $89.6154.

CUBI has been the subject of several research reports. Morgan Stanley raised their price objective on Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Monday, June 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. JPMorgan Chase & Co. upped their target price on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. DA Davidson lifted their price target on Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Finally, Hovde Group boosted their price objective on Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th.

Insider Transactions at Customers Bancorp

In related news, EVP Philip Watkins sold 3,000 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president owned 43,993 shares in the company, valued at approximately $3,328,950.31. This represents a 6.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Samvir S. Sidhu acquired 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $72.58 per share, with a total value of $72,580.00. Following the purchase, the chief executive officer directly owned 521,714 shares in the company, valued at approximately $37,866,002.12. This trade 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 insiders.

Institutional Trading of Customers Bancorp

Large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada lifted its holdings in shares of Customers Bancorp by 11.5% in the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after purchasing an additional 553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 valued at $885,000 after buying an additional 786 shares in the last quarter. Millennium Management LLC raised its position in Customers Bancorp by 71.4% during the first quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock valued at $13,791,000 after buying an additional 114,430 shares during the period. Jones Financial Companies Lllp acquired a new position in Customers Bancorp during the first quarter valued at $37,000. Finally, Creative Planning purchased a new stake in Customers Bancorp in the 2nd quarter worth about $250,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Stock Up 0.3%

CUBI stock opened at $76.35 on Wednesday. The firm has a market cap of $2.58 billion, a PE ratio of 9.69 and a beta of 1.48. Customers Bancorp has a 12 month low of $59.34 and a 12 month high of $82.56. 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 firm has a 50 day simple moving average of $76.06 and a 200 day simple moving average of $74.37.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.09. The firm had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The firm’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.54 earnings per share. Equities research analysts forecast that Customers Bancorp will post 8.35 earnings per share 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.