Analysts Set Customers Bancorp, Inc (NYSE:CUBI) PT at $90.69

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

Several equities analysts have recently issued reports on CUBI shares. DA Davidson boosted their price objective on Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Monday, July 27th. JPMorgan Chase & Co. raised their target price on Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research report on Wednesday, July 1st. Piper Sandler lifted their target price on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. Morgan Stanley lifted their target price on Customers Bancorp from $83.00 to $88.00 and gave the company an “equal weight” rating in a research note on Monday, June 29th. Finally, Keefe, Bruyette & Woods boosted their price target on Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd.

Customers Bancorp Trading Up 0.7%

Shares of NYSE:CUBI opened at $82.97 on Friday. The company has a market cap of $2.80 billion, a PE ratio of 10.12 and a beta of 1.49. The company’s 50-day moving average price is $77.83 and its 200 day moving average price is $74.75. Customers Bancorp has a fifty-two week low of $59.34 and a fifty-two week high of $83.95. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The firm 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 earned $1.80 EPS. Customers Bancorp’s quarterly revenue was up 10.2% on a year-over-year basis. Sell-side analysts anticipate that Customers Bancorp will post 8.43 earnings per share for the current year.

Insider Activity at Customers Bancorp

In related news, Chairman Jay S. Sidhu sold 68,821 shares of Customers Bancorp stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $80.09, for a total transaction of $5,511,873.89. Following the sale, the chairman directly owned 667,757 shares in the company, valued at $53,480,658.13. The trade was a 9.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 160,315 shares of company stock worth $12,578,896 over the last quarter. 10.45% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Customers Bancorp

Large investors have recently bought and sold shares of the stock. Versant Capital Management Inc grew its stake in Customers Bancorp by 41.0% in the second quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after purchasing an additional 163 shares in the last quarter. Lido Advisors LLC increased its position in Customers Bancorp by 3.0% in the 4th quarter. Lido Advisors LLC now owns 6,135 shares of the bank’s stock worth $412,000 after purchasing an additional 178 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Customers Bancorp by 0.5% during the 3rd quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock worth $2,226,000 after purchasing an additional 182 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Customers Bancorp by 1.3% during the 4th quarter. MetLife Investment Management LLC now owns 17,625 shares of the bank’s stock worth $1,289,000 after purchasing an additional 230 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of Customers Bancorp by 78.4% during the 1st quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after buying an additional 232 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.