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

Customers Bancorp, Inc. (NYSE:CUBI) has received an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $62.22.

A number of equities analysts recently weighed in on the stock. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Sunday, December 1st. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $79.00 to $53.00 in a research note on Tuesday, September 24th. Piper Sandler reduced their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Keefe, Bruyette & Woods boosted their target price on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James reduced their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 86,578 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $56.54, for a total transaction of $4,895,120.12. Following the sale, the chief executive officer now owns 1,090,598 shares of the company’s stock, valued at $61,662,410.92. This trade represents a 7.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the transaction, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock worth $5,425,815 in the last three months. Corporate insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Hood River Capital Management LLC boosted its holdings in shares of Customers Bancorp by 94.3% during the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after purchasing an additional 266,462 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after buying an additional 225,785 shares during the last quarter. State Street Corp grew its holdings in Customers Bancorp by 10.5% in the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after buying an additional 169,982 shares during the period. Peregrine Capital Management LLC acquired a new position in shares of Customers Bancorp during the 2nd quarter valued at about $7,690,000. Finally, American Century Companies Inc. lifted its holdings in shares of 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 period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Trading Up 1.6 %

NYSE CUBI opened at $47.71 on Tuesday. Customers Bancorp has a one year low of $42.31 and a one year high of $68.49. The firm has a market cap of $1.50 billion, a PE ratio of 7.75 and a beta of 1.65. The firm’s fifty day moving average is $51.53 and its two-hundred day moving average is $50.48. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The company had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. During the same period in the prior year, the company earned $2.59 earnings per share. The firm’s revenue was down 23.2% on a year-over-year basis. Analysts expect that Customers Bancorp will post 5.63 earnings per share for the current year.

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.