Morgan Stanley Increases Customers Bancorp (NYSE:CUBI) Price Target to $92.00

Customers Bancorp (NYSE:CUBI) had its price target raised by stock analysts at Morgan Stanley from $90.00 to $92.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s target price would indicate a potential upside of 33.14% from the stock’s current price.

Several other research analysts also recently issued reports on CUBI. Wall Street Zen downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Maxim Group set a $100.00 price target on Customers Bancorp in a report on Monday, January 26th. TD Cowen reiterated a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Customers Bancorp in a research note on Monday, December 29th. Finally, DA Davidson boosted their price objective on shares of Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, January 26th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Customers Bancorp Price Performance

NYSE CUBI traded up $1.66 during trading on Monday, hitting $69.10. 92,965 shares of the company’s stock were exchanged, compared to its average volume of 383,566. The company has a market cap of $2.36 billion, a PE ratio of 11.15 and a beta of 1.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. Customers Bancorp has a fifty-two week low of $40.75 and a fifty-two week high of $82.56. The stock’s 50 day moving average price is $75.52 and its two-hundred day moving average price is $70.54.

Customers Bancorp (NYSE:CUBI) last announced its quarterly 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. The company had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same period in the previous year, the firm posted $1.36 EPS. Research analysts expect that Customers Bancorp will post 6.45 EPS for the current year.

Customers Bancorp announced that its Board of Directors has approved a share buyback plan on Wednesday, February 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Jay S. Sidhu sold 128,185 shares of Customers Bancorp stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total value of $8,899,884.55. Following the completion of the transaction, the chief executive officer directly owned 790,031 shares of the company’s stock, valued at approximately $54,851,852.33. This trade represents a 13.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 6.92% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently added to or reduced their stakes in the business. Arax Advisory Partners lifted its stake in Customers Bancorp by 218.9% in the fourth 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 Customers Bancorp during the third quarter worth $29,000. Jones Financial Companies Lllp bought a new stake in Customers Bancorp in the first quarter valued at $37,000. Transamerica Financial Advisors LLC raised its holdings in shares of 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 purchasing an additional 404 shares during the period. Finally, Farther Finance Advisors LLC boosted its position in shares of Customers Bancorp by 63.1% during 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 in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.