Customers Bancorp, Inc (NYSE:CUBI) Receives $86.42 Consensus Target Price from Brokerages

Customers Bancorp, Inc (NYSE:CUBI) has been given an average rating of “Moderate Buy” by the twelve research firms that are covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $86.4167.

CUBI has been the subject of several recent analyst reports. Morgan Stanley cut their price objective on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 price objective on shares of Customers Bancorp in a report on Tuesday, January 6th. DA Davidson boosted their price objective on Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Piper Sandler initiated coverage on Customers Bancorp in a report on Thursday, March 12th. They set an “overweight” rating and a $82.00 price objective for the company. Finally, Stephens raised Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price objective for the company in a report on Monday, March 16th.

Customers Bancorp Stock Up 3.1%

CUBI stock opened at $73.95 on Monday. 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 firm has a market capitalization of $2.53 billion, a PE ratio of 11.93 and a beta of 1.57. Customers Bancorp has a twelve month low of $41.85 and a twelve month high of $82.56. The stock has a 50-day simple moving average of $70.81 and a two-hundred day simple moving average of $70.53.

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

Customers Bancorp announced that its board has authorized 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 buy up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Customers Bancorp

Hedge funds have recently bought and sold shares of the company. Arax Advisory Partners lifted its position 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 buying an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp in the 3rd quarter worth approximately $29,000. Transamerica Financial Advisors LLC lifted its position in 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 buying an additional 404 shares during the last quarter. Farther Finance Advisors LLC lifted its position in 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 buying an additional 260 shares during the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in Customers Bancorp in the 1st quarter worth approximately $37,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.