Customers Bancorp (NYSE:CUBI) PT Lowered to $61.00

Customers Bancorp (NYSE:CUBI) had its target price lowered by stock analysts at Wedbush from $63.00 to $61.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Wedbush’s target price would suggest a potential upside of 30.29% from the company’s current price. Wedbush also issued estimates for Customers Bancorp’s Q2 2024 earnings at $1.72 EPS, Q1 2025 earnings at $1.88 EPS, Q2 2025 earnings at $1.86 EPS, Q3 2025 earnings at $1.92 EPS and Q4 2025 earnings at $1.89 EPS.

CUBI has been the topic of a number of other reports. Jefferies Financial Group raised their price objective on Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a report on Monday, April 8th. Raymond James boosted their price objective on shares of Customers Bancorp from $65.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, January 29th. Finally, B. Riley increased their target price on shares of Customers Bancorp from $62.00 to $77.00 and gave the company a “buy” rating in a report on Monday, January 29th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $61.29.

Customers Bancorp Trading Down 5.5 %

Shares of Customers Bancorp stock opened at $46.82 on Friday. The company has a 50 day simple moving average of $51.40 and a two-hundred day simple moving average of $48.99. The firm has a market cap of $1.47 billion, a PE ratio of 6.54 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 company has a debt-to-equity ratio of 0.92, a current ratio of 0.93 and a quick ratio of 0.91.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. The company had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.62%. The firm’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.58 EPS. Analysts expect that Customers Bancorp will post 6.85 earnings per share for the current fiscal year.

Insider Buying and Selling

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

Institutional Trading of Customers Bancorp

Several large investors have recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. lifted its position in shares of Customers Bancorp by 40.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 68,795 shares of the bank’s stock worth $3,650,000 after purchasing an additional 19,712 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Customers Bancorp by 2.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 261,847 shares of the bank’s stock worth $13,894,000 after buying an additional 7,047 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Customers Bancorp by 51.1% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 71,000 shares of the bank’s stock worth $4,091,000 after buying an additional 24,000 shares during the period. Quantedge Capital Pte Ltd boosted its position in Customers Bancorp by 40.9% during the 4th quarter. Quantedge Capital Pte Ltd now owns 89,200 shares of the bank’s stock valued at $5,140,000 after acquiring an additional 25,900 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in Customers Bancorp during the 4th quarter valued at approximately $3,680,000. 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.