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

Key Points

• Customers Bancorp has a “Moderate Buy” consensus rating from 12 analysts, with six buys, five holds and one strong buy. The average 12-month price target is $90.69, above the reported share price of $78.92.
• The bank reported quarterly EPS of $2.05, beating estimates of $2.00, while revenue rose 10.2% year over year to $227.28 million, slightly below expectations.
• Institutional investors own 89.29% of the stock, while insiders have recently sold shares; Chairman Jay S. Sidhu sold 68,821 shares for approximately $5.5 million.

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) has received a consensus rating of "Moderate Buy" from the twelve brokerages that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $90.6923.

Several equities analysts have recently issued reports on the company. Fundamental Research set a $94.00 target price on Customers Bancorp in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their target price on shares of Customers Bancorp from $88.00 to $89.00 and gave the company a "market perform" rating in a research note on Monday, August 3rd. Piper Sandler increased their price target on shares of Customers Bancorp from $86.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, June 26th. JPMorgan Chase & Co. raised their price objective on shares of Customers Bancorp from $86.00 to $94.00 and gave the stock an "overweight" rating in a report on Wednesday, July 1st. Finally, DA Davidson lifted their price objective on Customers Bancorp from $98.00 to $100.00 and gave the company a "buy" rating in a research report on Monday, July 27th.

Customers Bancorp Price Performance

CUBI stock opened at $78.92 on Thursday. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 9.63 and a beta of 1.47. The firm's 50-day moving average price is $79.10 and its two-hundred day moving average price is $75.12. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. Customers Bancorp has a 12-month low of $59.34 and a 12-month high of $84.38.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share (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 company had revenue of $227.28 million for the quarter, compared to the consensus estimate of $229.24 million. During the same quarter in the previous year, the business earned $1.80 EPS. Customers Bancorp's revenue was up 10.2% compared to the same quarter last year. As a group, equities analysts predict that Customers Bancorp will post 8.43 earnings per share for the current year.

Insider Activity

In related news, Chairman Jay S. Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the sale, the chairman directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 100,000 shares of company stock valued at $7,981,084. 10.45% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Customers Bancorp

Institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LP purchased a new position in Customers Bancorp during the second quarter valued at $229,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Customers Bancorp in the second quarter worth $1,618,000. California State Teachers Retirement System increased its holdings in shares of Customers Bancorp by 7,606.1% during the second quarter. California State Teachers Retirement System now owns 3,052,390 shares of the bank's stock valued at $241,444,000 after acquiring an additional 3,012,780 shares in the last quarter. Nykredit A S purchased a new position in shares of Customers Bancorp in the 2nd quarter worth about $157,000. Finally, Susquehanna Fundamental Investments LLC raised its position in shares of Customers Bancorp by 13.5% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 24,634 shares of the bank's stock worth $1,949,000 after purchasing an additional 2,925 shares during the last quarter. 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.

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