Brokerages Set Customers Bancorp, Inc (NYSE:CUBI) Target Price at $90.69

Shares of Customers Bancorp, Inc (NYSE:CUBI) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $90.6923.

Several research analysts have weighed in on CUBI shares. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a report on Monday, June 29th. Fundamental Research set a $94.00 target price on Customers Bancorp in a research report on Wednesday, July 1st. Piper Sandler boosted their price target on shares of Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Morgan Stanley raised their price objective on shares of Customers Bancorp from $83.00 to $88.00 and gave the stock an “equal weight” rating in a report on Monday, June 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a research report on Monday, August 3rd.

Insiders Place Their Bets

In related news, Chairman Jay Sidhu sold 68,821 shares of the business’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $80.09, for a total value of $5,511,873.89. Following the sale, the chairman directly owned 667,757 shares in the company, valued at approximately $53,480,658.13. The trade was a 9.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last ninety days, insiders sold 100,000 shares of company stock valued at $7,981,084. Company insiders own 10.45% of the company’s stock.

Institutional Trading of Customers Bancorp

Hedge funds and other institutional investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its holdings in Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock valued at $16,279,000 after acquiring an additional 222,546 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Customers Bancorp by 213.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank’s stock worth $4,864,000 after acquiring an additional 45,299 shares during the period. HighTower Advisors LLC purchased a new position in shares of Customers Bancorp in the fourth quarter valued at $1,534,000. Summit Global Investments bought a new stake in shares of Customers Bancorp during the 2nd quarter valued at $1,016,000. Finally, Intech Investment Management LLC lifted its holdings in Customers Bancorp by 255.1% during the 4th quarter. Intech Investment Management LLC now owns 120,617 shares of the bank’s stock worth $8,820,000 after purchasing an additional 86,654 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Price Performance

Shares of NYSE:CUBI opened at $80.81 on Thursday. The firm’s fifty day moving average is $79.14 and its 200-day moving average is $75.27. Customers Bancorp has a 52 week low of $59.34 and a 52 week high of $84.38. The firm has a market cap of $2.73 billion, a PE ratio of 9.85 and a beta of 1.47. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.00 and a current ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating the consensus estimate of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The company had revenue of $227.28 million during the quarter, compared to analysts’ expectations of $229.24 million. During the same quarter in the prior year, the firm posted $1.80 earnings per share. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts predict that Customers Bancorp will post 8.43 earnings per share for the current year.

About Customers Bancorp

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.