Customers Bancorp, Inc. (NYSE:CUBI) Receives Average Recommendation of “Buy” from Analysts

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have earned a consensus rating of “Buy” from the eight analysts that are presently covering the stock, MarketBeat reports. One analyst has 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 1-year price objective among analysts that have covered the stock in the last year is $61.50.

Several research firms recently weighed in on CUBI. Hovde Group reduced their price objective on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday. Jefferies Financial Group lifted their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wedbush cut their price target on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. B. Riley lifted their price target on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a research note on Monday, January 29th. Finally, Raymond James lifted their price target on shares of Customers Bancorp from $65.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, January 29th.

Customers Bancorp Trading Up 1.8 %

CUBI opened at $48.25 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $1.52 billion, a PE ratio of 6.74 and a beta of 1.67. Customers Bancorp has a 1-year low of $15.80 and a 1-year high of $60.09. The firm has a 50-day moving average price of $50.83 and a two-hundred day moving average price of $49.69.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Friday, April 26th. The bank reported $1.68 EPS for the quarter, topping the consensus estimate of $1.63 by $0.05. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. The company had revenue of $181.62 million during the quarter, compared to analysts’ expectations of $183.48 million. During the same quarter in the previous year, the company earned $1.58 EPS. Customers Bancorp’s revenue was up 8.1% on a year-over-year basis. As a group, equities analysts anticipate that Customers Bancorp will post 6.46 earnings per share for the current fiscal year.

Insider Buying and Selling at Customers Bancorp

In other news, insider Glenn Hedde sold 666 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $54.20, for a total value of $36,097.20. Following the completion of the sale, the insider now owns 69,428 shares of the company’s stock, valued at $3,762,997.60. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Carla A. Leibold sold 35,832 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $53.15, for a total transaction of $1,904,470.80. Following the completion of the sale, the chief financial officer now owns 41,224 shares of the company’s stock, valued at $2,191,055.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Glenn Hedde sold 666 shares of the stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $54.20, for a total transaction of $36,097.20. Following the completion of the transaction, the insider now directly owns 69,428 shares of the company’s stock, valued at approximately $3,762,997.60. The disclosure for this sale can be found here. Corporate insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CUBI. Raymond James Financial Services Advisors Inc. increased its position in Customers Bancorp by 14.7% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 8,796 shares of the bank’s stock valued at $303,000 after purchasing an additional 1,125 shares during the period. BluePath Capital Management LLC acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $31,000. Affinity Investment Advisors LLC acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $677,000. Allspring Global Investments Holdings LLC grew its position in shares of Customers Bancorp by 4.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 293,096 shares of the bank’s stock worth $10,097,000 after buying an additional 13,556 shares during the period. Finally, Olympiad Research LP acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $283,000. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.