Brokerages Set Customers Bancorp, Inc (NYSE:CUBI) Target Price at $88.18

Customers Bancorp, Inc (NYSE:CUBI) has earned an average rating of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $87.6667.

CUBI has been the subject of several research reports. Stephens downgraded Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target for the company. in a research note on Friday, February 6th. B. Riley Financial reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Maxim Group set a $100.00 target price on shares of Customers Bancorp in a research report on Monday, January 26th. DA Davidson upped their price target on shares of Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Piper Sandler started coverage on shares of Customers Bancorp in a research report on Thursday. They issued an “overweight” rating and a $82.00 price target on the stock.

Customers Bancorp Stock Performance

NYSE CUBI opened at $64.68 on Thursday. The business has a 50 day moving average price of $74.03 and a 200 day moving average price of $70.56. The company has a market capitalization of $2.21 billion, a P/E ratio of 10.43 and a beta of 1.66. Customers Bancorp has a 1-year low of $40.75 and a 1-year high of $82.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $236.90 million for the quarter, compared to the consensus estimate of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same period in the previous year, the business earned $1.36 earnings per share. Sell-side analysts expect that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Customers Bancorp declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 11th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the bank to purchase up to 4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently bought and sold shares of the stock. Arax Advisory Partners raised its holdings in shares of Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after acquiring an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Customers Bancorp during the third quarter valued at $29,000. Jones Financial Companies Lllp purchased a new stake in Customers Bancorp during the 1st quarter worth about $37,000. Transamerica Financial Advisors LLC increased its position in Customers Bancorp by 216.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock worth $43,000 after purchasing an additional 404 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in Customers Bancorp by 63.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after purchasing an additional 260 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.