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

Shares of Customers Bancorp, Inc (NYSE:CUBI) have earned an average rating of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $89.6154.

Several research firms recently commented on CUBI. Morgan Stanley boosted their target price 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. Fundamental Research set a $94.00 price objective on Customers Bancorp in a research report on Wednesday, July 1st. JPMorgan Chase & Co. upped their target price on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 1st. Hovde Group raised their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $77.10 on Wednesday. The firm has a 50 day moving average of $76.20 and a two-hundred day moving average of $74.47. The stock has a market capitalization of $2.61 billion, a PE ratio of 9.78 and a beta of 1.48. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. Customers Bancorp has a 52 week low of $59.34 and a 52 week high of $82.56.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.88 by $0.09. The business had revenue of $225.40 million for the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The company’s revenue was up 57.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.54 earnings per share. On average, research analysts predict that Customers Bancorp will post 8.35 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In related news, EVP Philip Watkins sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $75.67, for a total transaction of $227,010.00. Following the transaction, the executive vice president owned 43,993 shares in the company, valued at $3,328,950.31. This trade represents a 6.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Samvir S. Sidhu purchased 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were purchased at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the purchase, the chief executive officer directly owned 521,714 shares in the company, valued at $37,866,002.12. The trade was a 0.19% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 10.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

Several large investors have recently modified their holdings of the company. Price T Rowe Associates Inc. MD grew its position in shares of Customers Bancorp by 3,074.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after acquiring an additional 844,141 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Customers Bancorp by 213.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank’s stock valued at $54,056,000 after purchasing an additional 529,987 shares during the last quarter. Anatole Investment Management Ltd purchased a new stake in Customers Bancorp in the 2nd quarter valued at $17,593,000. Millennium Management LLC boosted its stake in Customers Bancorp by 448.8% during the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after purchasing an additional 268,056 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock worth $16,279,000 after purchasing an additional 222,546 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

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.