Brokerages Set Customers Bancorp, Inc (NYSE:CUBI) Target Price at $87.50

Customers Bancorp, Inc (NYSE:CUBI) has been assigned an average recommendation of “Moderate Buy” from the twelve brokerages that are presently covering the company, Marketbeat reports. Five analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $87.50.

Several brokerages recently weighed in on CUBI. Hovde Group boosted their price objective on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a report on Tuesday, April 28th. Piper Sandler reissued an “overweight” rating and issued a $86.00 price objective (up from $82.00) on shares of Customers Bancorp in a report on Monday, April 27th. JPMorgan Chase & Co. lowered their price objective on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Stephens upgraded Customers Bancorp from an “underweight” rating to an “equal weight” rating and set a $71.00 target price for the company in a research note on Monday, March 16th. Finally, Morgan Stanley decreased their target price on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 31st.

Insider Buying and Selling at Customers Bancorp

In related news, CEO Samvir S. Sidhu bought 1,000 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $72.58 per share, for a total transaction of $72,580.00. Following the completion of the purchase, the chief executive officer directly owned 521,714 shares in the company, valued at approximately $37,866,002.12. The trade was a 0.19% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Philip Watkins sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $75.67, for a total value of $227,010.00. Following the transaction, the executive vice president owned 43,993 shares of the company’s stock, valued at approximately $3,328,950.31. This represents a 6.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 10.45% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CUBI. Arax Advisory Partners grew its holdings 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 acquiring an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp during the third quarter valued at about $29,000. Bessemer Group Inc. boosted its holdings in Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after acquiring an additional 232 shares during the period. Transamerica Financial Advisors LLC lifted its stake in shares of Customers Bancorp by 216.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after buying an additional 404 shares during the period. Finally, Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the first quarter valued at about $37,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Stock Down 2.8%

Shares of Customers Bancorp stock opened at $73.02 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.47 billion, a P/E ratio of 9.27 and a beta of 1.52. Customers Bancorp has a fifty-two week low of $49.54 and a fifty-two week high of $82.56. The business has a 50-day moving average price of $73.89 and a 200 day moving average price of $72.98.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.88 by $0.09. The firm had revenue of $225.40 million during the quarter, compared to analyst estimates of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.Customers Bancorp’s quarterly revenue was up 57.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. On average, sell-side analysts forecast that Customers Bancorp will post 8.52 earnings per share for the current fiscal year.

Customers Bancorp declared that its Board of Directors has approved a share buyback plan on Wednesday, February 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to purchase up to 4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.