Customers Bancorp, Inc (NYSE:CUBI) Stock Has Consensus Price Target of $90.82 According to Analysts

Key Points

• Customers Bancorp has a “Moderate Buy” consensus rating from 12 analysts, with six buys, one strong buy, four holds and one sell. The average 12-month price target is $90.82, above the reported share price of $78.83.
• The bank exceeded quarterly expectations, reporting $2.27 in earnings per share versus the $2.14 consensus estimate and revenue of $240.24 million versus $237.18 million expected.
• Institutional investors own 89.29% of the company, while insiders own 10.45%; however, insiders sold 100,000 shares valued at approximately $7.98 million over the past three months.

Shares of Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) have been assigned an average rating of "Moderate Buy" from the twelve research firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $90.82.

Several equities analysts have recently weighed in on the stock. Piper Sandler lifted their target price on shares of Customers Bancorp from $86.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, June 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Customers Bancorp in a research note on Friday, September 25th. Fundamental Research set a $94.00 price target on shares of Customers Bancorp in a report on Wednesday, July 1st. Keefe, Bruyette & Woods raised their price target on shares of Customers Bancorp from $88.00 to $89.00 and gave the company a "market perform" rating in a research report on Monday, August 3rd. Finally, TD Cowen dropped their price target on shares of Customers Bancorp from $94.00 to $91.00 and set a "buy" rating on the stock in a research report on Monday, October 5th.

Customers Bancorp Price Performance

Shares of CUBI opened at $78.83 on Friday. The firm has a market capitalization of $2.66 billion, a PE ratio of 9.61 and a beta of 1.52. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.00 and a quick ratio of 1.00. Customers Bancorp has a 1-year low of $63.44 and a 1-year high of $84.38. The company's fifty day moving average price is $77.40 and its 200-day moving average price is $77.04.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The bank reported $2.27 earnings per share for the quarter, beating analysts' consensus estimates of $2.14 by $0.13. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%. The business had revenue of $240.24 million for the quarter, compared to analyst estimates of $237.18 million. During the same period in the prior year, the company earned $2.20 earnings per share. On average, equities research analysts predict that Customers Bancorp will post 8.43 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, Chairman Jay Sidhu sold 68,821 shares of the stock in a transaction dated Monday, August 3rd. The shares were 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 of the company's stock, valued at $53,480,658.13. This represents a 9.34% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 100,000 shares of company stock valued at $7,981,084 in the last three months. Corporate insiders own 10.45% of the company's stock.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors and hedge funds have recently modified their holdings of CUBI. Bessemer Group Inc. raised its holdings in Customers Bancorp by 78.4% in the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank's stock worth $37,000 after purchasing an additional 232 shares during the period. Public Employees Retirement System of Ohio purchased a new position in Customers Bancorp during the second quarter worth approximately $40,000. Versant Capital Management Inc grew its holdings in Customers Bancorp by 41.0% in the second quarter. Versant Capital Management Inc now owns 561 shares of the bank's stock valued at $44,000 after purchasing an additional 163 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in Customers Bancorp in the second quarter valued at approximately $71,000. Finally, Rockefeller Capital Management L.P. grew its holdings in Customers Bancorp by 528.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 1,445 shares of the bank's stock valued at $106,000 after purchasing an additional 1,215 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking and financial services to businesses, entrepreneurs, professionals and consumers in the United States.

Customers Bank offers commercial and industrial lending, commercial real estate financing, small business lending, mortgage warehouse financing, venture banking and other specialized credit products. Its services also include business and consumer deposit accounts, cash management, treasury services, online banking and payment solutions.

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