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

Customers Bancorp, Inc. (NYSE:CUBI) has received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $62.22.

A number of equities research analysts recently issued reports on the company. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. StockNews.com upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Sunday, December 1st. Stephens lifted their price objective on shares of Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Raymond James lowered their target price 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. Finally, Piper Sandler reduced their price target 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.

Insiders Place Their Bets

In other news, insider Glenn Hedde sold 5,002 shares of the firm’s stock in a transaction 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 sale, the insider now owns 66,256 shares in the company, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp 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 sale, the director now directly owns 4,567 shares of the company’s stock, valued at $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock worth $5,425,815 in the last ninety days. 6.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Customers Bancorp

Institutional investors have recently modified their holdings of the company. Basswood Capital Management L.L.C. bought a new stake in Customers Bancorp in the 3rd quarter worth approximately $26,000. Ridgewood Investments LLC purchased a new stake in shares of Customers Bancorp in the 2nd quarter valued at $48,000. GAMMA Investing LLC grew its holdings 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 purchasing an additional 282 shares during the last quarter. Innealta Capital LLC purchased a new position in Customers Bancorp in the 2nd quarter worth $74,000. Finally, Quest Partners LLC lifted its stake in Customers Bancorp by 143.4% in the third quarter. Quest Partners LLC now owns 1,633 shares of the bank’s stock worth $76,000 after purchasing an additional 962 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Up 0.7 %

CUBI opened at $48.05 on Tuesday. Customers Bancorp has a twelve month low of $42.31 and a twelve month high of $68.49. The company’s 50-day moving average price is $51.53 and its two-hundred day moving average price is $50.61. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 7.80 and a beta of 1.65. 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 posted its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million during the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter in the previous year, the company posted $2.59 EPS. Customers Bancorp’s revenue for the quarter was down 23.2% on a year-over-year basis. As a group, equities analysts expect that Customers Bancorp will post 5.63 earnings per share for the current year.

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.