B. Riley Issues Positive Forecast for Customers Bancorp (NYSE:CUBI) Stock Price

Customers Bancorp (NYSE:CUBI) had its price objective raised by B. Riley from $78.00 to $80.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the bank’s stock. B. Riley also issued estimates for Customers Bancorp’s Q4 2024 earnings at $1.39 EPS and FY2025 earnings at $7.23 EPS.

Several other research firms have also commented on CUBI. Piper Sandler reduced their price target on Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday. DA Davidson upped their target price on shares of Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $57.00 to $52.00 in a report on Monday. Hovde Group downgraded Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price target for the company. in a research note on Friday, August 9th. Finally, Wedbush downgraded Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Customers Bancorp presently has an average rating of “Hold” and a consensus price target of $61.88.

Customers Bancorp Trading Down 6.8 %

Shares of CUBI stock opened at $51.76 on Monday. Customers Bancorp has a fifty-two week low of $40.61 and a fifty-two week high of $68.49. The firm’s 50 day moving average price is $47.19 and its two-hundred day moving average price is $48.99. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 8.40 and a beta of 1.61. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). The company had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.59 earnings per share. On average, analysts anticipate that Customers Bancorp will post 5.98 EPS for the current year.

Insiders Place Their Bets

In related news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the sale, the insider now directly owns 66,256 shares of the company’s stock, valued at $3,556,622.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Samvir S. Sidhu acquired 2,500 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were purchased at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the acquisition, the chief executive officer now owns 144,504 shares in the company, valued at approximately $6,579,267.12. This represents a 0.00 % increase in their ownership of the stock. 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 5,002 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total transaction of $268,507.36. Following the completion of the sale, the insider now owns 66,256 shares of the company’s stock, valued at approximately $3,556,622.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.92% of the stock is owned by company insiders.

Institutional Trading of Customers Bancorp

Several large investors have recently added to or reduced their stakes in the company. Hood River Capital Management LLC boosted its holdings in shares of Customers Bancorp by 94.3% during the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after purchasing an additional 266,462 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of Customers Bancorp by 88.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after buying an additional 225,785 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of Customers Bancorp during the 2nd quarter valued at $7,690,000. Vanguard Group Inc. increased its stake in shares of Customers Bancorp by 5.4% in the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after acquiring an additional 111,654 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after acquiring an additional 87,557 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Company Profile

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.