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

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have earned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $64.14.

Several brokerages recently issued reports on CUBI. Hovde Group cut Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research note on Friday, August 9th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Keefe, Bruyette & Woods decreased their price target on Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. DA Davidson upped their price objective on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Finally, B. Riley increased their price objective on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, July 29th.

Customers Bancorp Stock Down 1.0 %

CUBI stock opened at $45.68 on Monday. Customers Bancorp has a fifty-two week low of $40.46 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 7.42 and a beta of 1.61. The business’s fifty day moving average price is $47.26 and its two-hundred day moving average price is $48.92.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.79% and a net margin of 15.22%. The business had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same quarter last year, the firm earned $2.59 EPS. Customers Bancorp’s revenue for the quarter was down 23.2% compared to the same quarter last year. On average, equities analysts anticipate that Customers Bancorp will post 6.11 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu bought 2,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the purchase, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently bought and sold shares of CUBI. Dimensional Fund Advisors LP boosted its stake in shares of Customers Bancorp by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 2,242,121 shares of the bank’s stock valued at $107,575,000 after purchasing an additional 21,302 shares in the last quarter. Vanguard Group Inc. boosted its position in Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after buying an additional 111,654 shares during the period. American Century Companies Inc. grew its holdings in Customers Bancorp by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after acquiring an additional 87,557 shares during the last quarter. Hood River Capital Management LLC increased its position in Customers Bancorp by 94.3% in the 2nd quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after acquiring an additional 266,462 shares during the period. Finally, Assenagon Asset Management S.A. raised its stake in shares of Customers Bancorp by 88.9% during the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after acquiring an additional 225,785 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

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.