Customers Bancorp (NYSE:CUBI) Reaches New 12-Month High – Time to Buy?

Customers Bancorp, Inc (NYSE:CUBI)’s share price reached a new 52-week high on Wednesday . The company traded as high as $80.96 and last traded at $80.1990, with a volume of 198095 shares traded. The stock had previously closed at $75.38.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CUBI. Wall Street Zen raised Customers Bancorp from a “hold” rating to a “buy” rating in a research note on Saturday. National Bankshares set a $89.00 price objective on Customers Bancorp in a research report on Wednesday, September 24th. DA Davidson increased their target price on Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Zacks Research lowered shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Finally, Stephens raised their price target on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.80.

Customers Bancorp Stock Up 6.2%

The firm has a market capitalization of $2.74 billion, a PE ratio of 16.24 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 company has a fifty day simple moving average of $72.71 and a two-hundred day simple moving average of $68.33.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 23rd. The bank reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The company had revenue of $231.77 million during the quarter, compared to analyst estimates of $185.10 million. During the same period in the prior year, the firm earned $1.34 earnings per share. Analysts forecast that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Insider Activity

In related news, Director Bernard Bennett Banks sold 9,000 shares of Customers Bancorp stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $66.93, for a total transaction of $602,370.00. Following the transaction, the director directly owned 7,524 shares of the company’s stock, valued at $503,581.32. This trade represents a 54.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Philip Watkins sold 2,900 shares of the company’s stock in a transaction on Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the sale, the executive vice president owned 50,849 shares of the company’s stock, valued at approximately $3,307,218.96. This represents a 5.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 211,900 shares of company stock worth $14,595,664. Corporate insiders own 8.69% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. Arizona State Retirement System raised its holdings in Customers Bancorp by 1.8% in the third quarter. Arizona State Retirement System now owns 8,879 shares of the bank’s stock worth $580,000 after purchasing an additional 155 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Customers Bancorp by 0.5% in the 3rd quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock valued at $2,226,000 after buying an additional 182 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Customers Bancorp by 4.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank’s stock worth $267,000 after buying an additional 185 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Customers Bancorp by 4.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock worth $327,000 after acquiring an additional 243 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Customers Bancorp by 0.3% during the second quarter. Russell Investments Group Ltd. now owns 80,896 shares of the bank’s stock valued at $4,752,000 after acquiring an additional 244 shares during the last quarter. Institutional investors 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.