Analysts Set Customers Bancorp, Inc (NYSE:CUBI) PT at $90.69

Customers Bancorp, Inc (NYSE:CUBI) has been given a consensus rating of “Moderate Buy” by the twelve analysts that are covering the company, MarketBeat reports. Five investment 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 target price among analysts that have issued a report on the stock in the last year is $90.6923.

Several equities analysts have recently issued reports on CUBI shares. DA Davidson boosted their target price on Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd. Fundamental Research set a $94.00 price target on shares of Customers Bancorp in a report on Wednesday, July 1st. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Finally, Piper Sandler upped their price objective on shares of Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, June 26th.

Insider Buying and Selling at Customers Bancorp

In related news, Chairman Jay Sidhu sold 68,821 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the transaction, the chairman owned 667,757 shares in the company, valued at $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have sold 100,000 shares of company stock worth $7,981,084. Insiders own 10.45% of the company’s stock.

Institutional Trading of Customers Bancorp

Large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of 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 valued at $16,279,000 after buying an additional 222,546 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of Customers Bancorp by 213.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank’s stock worth $4,864,000 after buying an additional 45,299 shares during the period. HighTower Advisors LLC bought a new position in shares of Customers Bancorp in the 4th quarter worth about $1,534,000. Summit Global Investments bought a new position in shares of Customers Bancorp in the 2nd quarter worth about $1,016,000. Finally, Intech Investment Management LLC lifted its position in Customers Bancorp by 255.1% during the 4th quarter. Intech Investment Management LLC now owns 120,617 shares of the bank’s stock valued at $8,820,000 after acquiring an additional 86,654 shares during the period. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Stock Up 1.5%

NYSE CUBI opened at $80.81 on Thursday. Customers Bancorp has a 1 year low of $59.34 and a 1 year high of $84.38. The stock has a market capitalization of $2.73 billion, a PE ratio of 9.85 and a beta of 1.47. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. The business’s 50-day moving average is $79.10 and its 200 day moving average is $75.21.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The business had revenue of $227.28 million during the quarter, compared to analyst estimates of $229.24 million. During the same quarter in the prior year, the company posted $1.80 EPS. Customers Bancorp’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts forecast that Customers Bancorp will post 8.43 earnings per share for the current year.

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.