Analysts Set Customers Bancorp, Inc (NYSE:CUBI) Target Price at $83.67

Shares of Customers Bancorp, Inc (NYSE:CUBI) have received a consensus rating of “Moderate Buy” from the eleven brokerages that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $83.6667.

Several equities research analysts have recently commented on CUBI shares. TD Cowen lifted their price objective on shares of Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. National Bankshares set a $89.00 target price on Customers Bancorp in a research note on Wednesday, September 24th. Wall Street Zen cut Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 13th. B. Riley reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Finally, DA Davidson raised their price objective on Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, October 27th.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $75.02 on Friday. Customers Bancorp has a fifty-two week low of $40.75 and a fifty-two week high of $78.33. The company has a market cap of $2.56 billion, a PE ratio of 15.22 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The business has a 50-day simple moving average of $69.71 and a two-hundred day simple moving average of $66.10.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Monday, September 8th. The bank reported $1.80 EPS for the quarter. The firm had revenue of $206.82 million during the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. As a group, equities analysts expect that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Jay S. Sidhu sold 128,185 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the completion of the sale, the chief executive officer directly owned 790,031 shares in the company, valued at approximately $54,851,852.33. The trade was a 13.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bernard Bennett Banks sold 9,000 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $66.93, for a total transaction of $602,370.00. Following the completion of the sale, the director owned 7,524 shares in the company, valued at $503,581.32. The trade was a 54.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 211,900 shares of company stock valued at $14,595,664. 6.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CUBI. Arizona State Retirement System lifted its holdings in shares of Customers Bancorp by 1.8% in the 3rd quarter. Arizona State Retirement System now owns 8,879 shares of the bank’s stock valued at $580,000 after buying an additional 155 shares during the period. Alliancebernstein L.P. grew its holdings in Customers Bancorp by 0.5% during the third quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock worth $2,226,000 after acquiring an additional 182 shares during the period. Teacher Retirement System of Texas raised its position in Customers Bancorp by 4.2% during the second quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank’s stock valued at $267,000 after acquiring an additional 185 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in Customers Bancorp by 5.3% in the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank’s stock valued at $222,000 after acquiring an additional 223 shares during the period. Finally, Concurrent Investment Advisors LLC boosted its position in Customers Bancorp by 4.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock worth $327,000 after purchasing an additional 243 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.