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

Key Points

• Customers Bancorp has a consensus analyst rating of “Moderate Buy”, with six buy ratings, one strong buy, and five hold ratings. The average 12-month price target is about $89.62.
• Several firms recently raised their targets, including JPMorgan to $94 and Piper Sandler to $92, reflecting continued positive sentiment around the stock.
• The company reported strong quarterly results, posting EPS of $1.97 versus expectations of $1.88 and revenue growth of 57.9% year over year. Insiders also showed mixed activity, with the chairman selling shares while the CEO made a small purchase.

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the twelve research firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $89.6154.

Several brokerages have recently commented on CUBI. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Customers Bancorp in a research report on Monday, June 29th. JPMorgan Chase & Co. boosted their price objective on Customers Bancorp from $86.00 to $94.00 and gave the company an "overweight" rating in a report on Wednesday, July 1st. DA Davidson upped their price objective on Customers Bancorp from $91.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Hovde Group increased their target price on Customers Bancorp from $80.00 to $86.00 and gave the stock a "market perform" rating in a report on Tuesday, April 28th. Finally, Piper Sandler lifted their target price on Customers Bancorp from $86.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, June 26th.

Insider Buying and Selling

In other Customers Bancorp news, Chairman Jay S. Sidhu sold 60,315 shares of the business'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 owned 767,557 shares in the company, valued at $58,510,870.11. The trade was a 7.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Samvir S. Sidhu bought 1,000 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were acquired at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the acquisition, the chief executive officer directly owned 521,714 shares of the company's stock, valued at $37,866,002.12. This trade represents a 0.19% increase in their position. The SEC filing for this purchase provides additional information. 10.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Customers Bancorp by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank's stock worth $162,424,000 after acquiring an additional 66,031 shares during the period. Dimensional Fund Advisors LP boosted its stake in Customers Bancorp by 3.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank's stock valued at $134,859,000 after acquiring an additional 65,954 shares during the period. State Street Corp grew its holdings in shares of Customers Bancorp by 1.8% during the fourth quarter. State Street Corp now owns 1,832,570 shares of the bank's stock valued at $133,998,000 after purchasing an additional 32,449 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Customers Bancorp by 3,074.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank's stock worth $63,732,000 after purchasing an additional 844,141 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Customers Bancorp by 213.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 778,789 shares of the bank's stock worth $54,056,000 after purchasing an additional 529,987 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Trading Up 0.3%

CUBI opened at $76.35 on Wednesday. The stock has a market capitalization of $2.58 billion, a PE ratio of 9.69 and a beta of 1.48. The firm's fifty day moving average price is $76.06 and its 200 day moving average price is $74.37. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01. Customers Bancorp has a 12-month low of $59.34 and a 12-month high of $82.56.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.88 by $0.09. The company had revenue of $225.40 million during the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The firm's revenue for the quarter was up 57.9% compared to the same quarter last year. During the same period last year, the business earned $1.54 EPS. As a group, research analysts expect that Customers Bancorp will post 8.35 EPS for the current fiscal year.

About Customers Bancorp

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.