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

Shares of Customers Bancorp, Inc (NYSE:CUBI) have earned an average rating of “Moderate Buy” from the twelve ratings firms that are currently covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $87.50.

Several equities research analysts have recently commented on CUBI shares. Wall Street Zen cut Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. Morgan Stanley lowered their target price on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st. Piper Sandler reissued an “overweight” rating and issued a $86.00 target price (up from $82.00) on shares of Customers Bancorp in a research note on Monday. Weiss Ratings raised Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. Finally, Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 target price on shares of Customers Bancorp in a research note on Tuesday, January 6th.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Arax Advisory Partners increased its stake in shares of Customers Bancorp by 218.9% in the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after buying an additional 243 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in shares of Customers Bancorp in the 3rd quarter worth $29,000. Jones Financial Companies Lllp bought a new position in shares of Customers Bancorp in the 1st quarter worth $37,000. Transamerica Financial Advisors LLC boosted its position in shares of Customers Bancorp by 216.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after purchasing an additional 404 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Customers Bancorp by 63.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock worth $44,000 after purchasing an additional 260 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Stock Up 0.6%

NYSE CUBI opened at $76.30 on Friday. The stock has a fifty day moving average of $71.14 and a 200-day moving average of $71.69. The stock has a market capitalization of $2.57 billion, a P/E ratio of 9.68 and a beta of 1.57. Customers Bancorp has a 52 week low of $49.38 and a 52 week high of $82.56. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.01 and a current ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating the consensus estimate of $1.88 by $0.09. The company had revenue of $225.40 million during the quarter, compared to analysts’ expectations of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The business’s revenue for the quarter was up 57.9% on a year-over-year basis. During the same period last year, the firm earned $1.54 EPS. On average, equities research analysts forecast that Customers Bancorp will post 8.5 EPS for the current year.

Customers Bancorp announced that its board has approved a stock buyback plan on Wednesday, February 11th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the bank to purchase up to 4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are 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.