Customers Bancorp, Inc (NYSE:CUBI) Receives Average Rating of “Moderate Buy” from Brokerages

Customers Bancorp, Inc (NYSE:CUBI) has been given a consensus rating of “Moderate Buy” by the twelve brokerages that are covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $87.50.

Several analysts have commented on the stock. Piper Sandler reiterated an “overweight” rating and issued a $86.00 price target (up from $82.00) on shares of Customers Bancorp in a research note on Monday, April 27th. Weiss Ratings raised Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. DA Davidson boosted their target price on Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. dropped their price target on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a research note on Wednesday, April 1st. Finally, Maxim Group set a $100.00 price target on Customers Bancorp in a report on Monday, January 26th.

Customers Bancorp Trading Up 0.9%

Shares of CUBI opened at $77.23 on Friday. The firm has a market cap of $2.60 billion, a P/E ratio of 9.80 and a beta of 1.52. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.01 and a quick ratio of 1.01. Customers Bancorp has a 1 year low of $49.54 and a 1 year high of $82.56. The company has a 50 day simple moving average of $71.23 and a two-hundred day simple moving average of $71.85.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, topping the consensus estimate of $1.88 by $0.09. The firm had revenue of $225.40 million for the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a net margin of 18.63% and a return on equity of 14.12%. The company’s quarterly revenue was up 57.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.54 earnings per share. On average, equities analysts expect that Customers Bancorp will post 8.52 earnings per share for the current fiscal year.

Customers Bancorp announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 11th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the bank to reacquire up to 4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Customers Bancorp

A number of large investors have recently made changes to their positions in the business. Arax Advisory Partners raised its position in shares of Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after buying an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in Customers Bancorp in the third quarter worth about $29,000. Jones Financial Companies Lllp bought a new stake in Customers Bancorp during the first quarter worth approximately $37,000. Transamerica Financial Advisors LLC raised its position in Customers Bancorp by 216.0% during the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after purchasing an additional 404 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Customers Bancorp by 63.1% during the third 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 period. 89.29% of the stock is currently owned by institutional investors.

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.