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

Customers Bancorp, Inc. (NYSE:CUBI) has received a consensus rating of “Moderate Buy” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $62.22.

Several equities analysts recently commented on the company. Keefe, Bruyette & Woods boosted their target price on Customers Bancorp from $52.00 to $62.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. StockNews.com raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Stephens boosted their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th. Finally, Piper Sandler decreased their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday, November 4th.

Customers Bancorp Trading Up 1.7 %

Shares of Customers Bancorp stock opened at $49.84 on Friday. The company’s 50-day moving average price is $51.83 and its 200-day moving average price is $50.90. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. Customers Bancorp has a 12-month low of $42.31 and a 12-month high of $68.49. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 8.09 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.59 earnings per share. On average, equities analysts expect that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Jay S. Sidhu sold 860 shares of the company’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total transaction of $47,067.80. Following the completion of the sale, the chief executive officer now directly owns 1,189,738 shares in the company, valued at $65,114,360.74. This represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert Neil Mackay sold 4,000 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total transaction of $215,120.00. Following the sale, the director now directly owns 4,567 shares of the company’s stock, valued at $245,613.26. The trade was a 46.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,440 shares of company stock valued at $5,425,815 over the last three months. Insiders own 6.92% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC purchased a new position in Customers Bancorp during the 2nd quarter valued at about $698,000. Thrivent Financial for Lutherans increased its stake in shares of Customers Bancorp by 26.6% during the second quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank’s stock valued at $3,429,000 after buying an additional 15,011 shares during the period. Denali Advisors LLC raised its holdings in shares of Customers Bancorp by 37.0% during the second quarter. Denali Advisors LLC now owns 47,044 shares of the bank’s stock valued at $2,257,000 after acquiring an additional 12,700 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Customers Bancorp by 117.9% during the third quarter. BNP Paribas Financial Markets now owns 40,425 shares of the bank’s stock valued at $1,878,000 after acquiring an additional 21,871 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Customers Bancorp by 14.6% in the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after acquiring an additional 87,557 shares during the period. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.