Customers Bancorp, Inc. (NYSE:CUBI) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have earned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $62.22.

A number of equities research analysts have weighed in on CUBI shares. Raymond James cut their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler reduced their price objective on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating for the company in a research report on Monday, November 4th. Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Keefe, Bruyette & Woods raised their price target on Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Finally, Stephens upped their price target on shares of Customers Bancorp from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Monday, November 11th.

Customers Bancorp Stock Up 1.7 %

CUBI stock opened at $49.84 on Friday. Customers Bancorp has a fifty-two week low of $42.31 and a fifty-two week high of $68.49. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 8.09 and a beta of 1.68. The business’s 50 day moving average price is $51.83 and its two-hundred day moving average price is $50.90. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.92 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a return on equity of 13.55% and a net margin of 15.22%. The firm had revenue of $167.10 million during the quarter, compared to the consensus estimate of $191.61 million. During the same quarter last year, the company posted $2.59 EPS. Customers Bancorp’s revenue for the quarter was down 23.2% compared to the same quarter last year. As a group, analysts forecast that Customers Bancorp will post 5.63 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert Neil Mackay sold 4,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the completion of the sale, the director now owns 4,567 shares in the company, valued at approximately $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Glenn Hedde sold 5,002 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the transaction, the insider now directly owns 66,256 shares in the company, valued at $3,556,622.08. The trade was a 7.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,440 shares of company stock valued at $5,425,815 in the last 90 days. 6.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors have recently made changes to their positions in the business. Basswood Capital Management L.L.C. purchased a new stake in Customers Bancorp during the third quarter valued at approximately $26,000. GAMMA Investing LLC grew its position in shares of Customers Bancorp by 21.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock valued at $73,000 after acquiring an additional 282 shares during the period. Quest Partners LLC increased its stake in shares of Customers Bancorp by 143.4% in the 3rd quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares in the last quarter. Point72 DIFC Ltd purchased a new position in Customers Bancorp during the third quarter valued at $84,000. Finally, CWM LLC grew its holdings in Customers Bancorp by 14.2% during the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the period. 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.