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

Key Points

• Customers Bancorp has an average analyst rating of “Moderate Buy” from 12 analysts, with a consensus 12-month price target of $87.50.
• The company beat quarterly earnings expectations, reporting EPS of $1.97 versus estimates of $1.88, while revenue rose 57.9% year over year to $225.4 million.
• Recent insider activity was mixed: Chairman Jay S. Sidhu sold 60,315 shares, while CEO Samvir S. Sidhu bought 1,000 shares.

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twelve analysts that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $87.50.

CUBI has been the subject of a number of recent analyst reports. DA Davidson boosted their target price on shares of Customers Bancorp from $91.00 to $93.00 and gave the company a "buy" rating in a research note on Monday, April 27th. Zacks Research lowered shares of Customers Bancorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Morgan Stanley lowered their target price on shares of Customers Bancorp from $92.00 to $83.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 31st. Stephens raised shares of Customers Bancorp from an "underweight" rating to an "equal weight" rating and set a $71.00 target price for the company in a research note on Monday, March 16th. Finally, Hovde Group boosted their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the company a "market perform" rating in a research note on Tuesday, April 28th.

Customers Bancorp Stock Down 0.1%

Shares of CUBI opened at $75.74 on Friday. The company has a market cap of $2.56 billion, a PE ratio of 9.61 and a beta of 1.49. The business has a fifty day moving average of $75.55 and a 200 day moving average of $73.78. Customers Bancorp has a 52-week low of $51.61 and a 52-week high of $82.56. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.88 by $0.09. The company had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.Customers Bancorp's revenue was up 57.9% on a year-over-year basis. During the same period last year, the company earned $1.54 earnings per share. On average, sell-side analysts expect that Customers Bancorp will post 8.52 EPS for the current year.

Insider Activity

In other 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 directly owned 767,557 shares of the company's stock, valued at approximately $58,510,870.11. The trade was a 7.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Samvir S. Sidhu bought 1,000 shares of the stock in a transaction dated Tuesday, May 12th. The shares were bought at an average cost of $72.58 per share, with a total value of $72,580.00. Following the completion of the purchase, the chief executive officer directly owned 521,714 shares of the company's stock, valued at approximately $37,866,002.12. This trade represents a 0.19% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 10.45% of the company's stock.

Institutional Trading of Customers Bancorp

Several institutional investors and hedge funds have recently made changes to their positions in CUBI. Arax Advisory Partners raised its holdings in shares of Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank's stock valued at $26,000 after acquiring an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in shares of Customers Bancorp in the third quarter valued at about $29,000. Bessemer Group Inc. raised its holdings in shares of Customers Bancorp by 78.4% in the first quarter. Bessemer Group Inc. now owns 528 shares of the bank's stock valued at $37,000 after acquiring an additional 232 shares in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the first quarter valued at about $37,000. Finally, Transamerica Financial Advisors LLC raised its holdings in shares of Customers Bancorp by 216.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank's stock valued at $43,000 after acquiring an additional 404 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

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.