Customers Bancorp, Inc (NYSE:CUBI) Given Consensus Recommendation of “Moderate Buy” by Analysts

Customers Bancorp, Inc (NYSE:CUBI) has earned a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $87.50.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. Zacks Research lowered shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Morgan Stanley dropped their price objective on shares of Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 31st. DA Davidson raised their price target on shares of Customers Bancorp from $91.00 to $93.00 and gave the company a “buy” rating in a report on Monday, April 27th. Finally, Stephens raised shares of Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 price target for the company in a report on Monday, March 16th.

Insider Activity at Customers Bancorp

In related news, Chairman Jay S. Sidhu sold 60,315 shares of the firm’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the completion of the sale, the chairman directly owned 767,557 shares of the company’s stock, valued at approximately $58,510,870.11. This trade represents a 7.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Philip Watkins sold 3,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the sale, the executive vice president directly owned 43,993 shares of the company’s stock, valued at approximately $3,328,950.31. The trade was a 6.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 10.45% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

A number of large investors have recently added to or reduced their stakes in CUBI. Access Investment Management LLC boosted its stake in Customers Bancorp by 5.7% during the 1st quarter. Access Investment Management LLC now owns 139,940 shares of the bank’s stock valued at $9,713,000 after acquiring an additional 7,525 shares during the last quarter. Bank of America Corp DE boosted its stake in Customers Bancorp by 62.0% during the 1st quarter. Bank of America Corp DE now owns 164,595 shares of the bank’s stock valued at $11,425,000 after acquiring an additional 63,021 shares during the last quarter. Amundi boosted its stake in Customers Bancorp by 46.9% during the 1st quarter. Amundi now owns 6,419 shares of the bank’s stock valued at $446,000 after acquiring an additional 2,049 shares during the last quarter. California State Teachers Retirement System boosted its stake in Customers Bancorp by 33.8% during the 1st quarter. California State Teachers Retirement System now owns 39,610 shares of the bank’s stock valued at $2,749,000 after acquiring an additional 10,004 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in Customers Bancorp by 509.3% during the 1st quarter. Royal Bank of Canada now owns 10,114 shares of the bank’s stock valued at $702,000 after acquiring an additional 8,454 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $75.16 on Tuesday. Customers Bancorp has a 52-week low of $49.54 and a 52-week high of $82.56. The firm has a fifty day moving average of $73.75 and a 200-day moving average of $72.91. The firm has a market capitalization of $2.54 billion, a P/E ratio of 9.54 and a beta of 1.52. 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 (NYSE:CUBI) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.09. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $223.51 million. During the same quarter in the prior year, the business earned $1.54 earnings per share. The business’s quarterly revenue was up 57.9% compared to the same quarter last year. As a group, analysts predict that Customers Bancorp will post 8.52 EPS for the current year.

Customers Bancorp announced that its board has authorized a share buyback plan on Wednesday, February 11th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the bank to repurchase up to 4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

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.