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

Customers Bancorp, Inc. (NYSE:CUBI) has earned an average rating of “Moderate Buy” from the eight brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $62.00.

Several research analysts have recently issued reports on CUBI shares. Raymond James decreased their price target on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 2nd. DA Davidson upped their target price on Customers Bancorp from $71.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, July 29th. Wedbush cut Customers Bancorp from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $79.00 to $53.00 in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods dropped their price target on shares of Customers Bancorp from $76.00 to $63.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, B. Riley lifted their price objective on shares of Customers Bancorp from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, July 29th.

Customers Bancorp Stock Performance

CUBI stock opened at $45.23 on Thursday. Customers Bancorp has a 1 year low of $31.16 and a 1 year high of $68.49. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 6.32 and a beta of 1.61. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. The stock’s fifty day moving average is $48.52 and its two-hundred day moving average is $49.46.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.06. Customers Bancorp had a net margin of 17.38% and a return on equity of 17.09%. The firm had revenue of $198.69 million for the quarter, compared to the consensus estimate of $184.40 million. During the same period last year, the firm posted $1.65 EPS. Customers Bancorp’s quarterly revenue was up 3.9% compared to the same quarter last year. On average, research analysts predict that Customers Bancorp will post 6.34 EPS for the current year.

Insider Transactions at Customers Bancorp

In other news, CEO Samvir S. Sidhu acquired 2,500 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, August 13th. The stock was purchased at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the transaction, the chief executive officer now owns 144,504 shares in the company, valued at approximately $6,579,267.12. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Customers Bancorp

Several institutional investors have recently made changes to their positions in CUBI. Hood River Capital Management LLC raised its position in Customers Bancorp by 94.3% during the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after acquiring an additional 266,462 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of Customers Bancorp by 252.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 253,954 shares of the bank’s stock valued at $12,185,000 after purchasing an additional 181,819 shares in the last quarter. Peregrine Capital Management LLC acquired a new stake in shares of Customers Bancorp in the 2nd quarter valued at $7,690,000. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 111,654 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Customers Bancorp by 14.6% in the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after purchasing an additional 87,557 shares in the last quarter. 89.29% of the stock is currently 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.