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

Shares of Customers Bancorp, Inc (NYSE:CUBI) have been assigned a consensus rating of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $87.80.

CUBI has been the subject of several analyst reports. Zacks Research upgraded Customers Bancorp from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Hovde Group boosted their price target on Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a report on Thursday, October 30th. Keefe, Bruyette & Woods raised their price objective on Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. DA Davidson boosted their price objective on Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. Finally, TD Cowen reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Jay S. Sidhu sold 128,185 shares of Customers Bancorp stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the transaction, the chief executive officer owned 790,031 shares in the company, valued at approximately $54,851,852.33. The trade was a 13.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Philip Watkins sold 2,900 shares of the 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 completion of the sale, the executive vice president owned 50,849 shares of the company’s stock, valued at $3,307,218.96. The trade was a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 138,564 shares of company stock worth $9,612,479 over the last 90 days. Insiders own 8.69% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Arax Advisory Partners boosted its stake in Customers Bancorp by 218.9% in the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after purchasing an additional 243 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Customers Bancorp during the third quarter worth $29,000. Jones Financial Companies Lllp purchased a new position in Customers Bancorp during the first quarter valued at $37,000. Transamerica Financial Advisors LLC grew its stake in Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after acquiring an additional 404 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in Customers Bancorp by 63.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after acquiring an additional 260 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $72.88 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $2.49 billion, a PE ratio of 11.76 and a beta of 1.65. The firm’s 50 day moving average price is $76.03 and its 200-day moving average price is $70.26. Customers Bancorp has a twelve month low of $40.75 and a twelve month high of $82.56.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The company had revenue of $236.90 million during the quarter, compared to analyst estimates of $200.38 million. During the same period in the previous year, the business posted $1.36 earnings per share. Equities research analysts expect that Customers Bancorp will post 6.45 EPS for the current year.

Customers Bancorp announced that its Board of Directors has initiated a share buyback program on Wednesday, February 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to repurchase up to 4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.