Brokerages Set Customers Bancorp, Inc (NYSE:CUBI) Target Price at $89.62

Customers Bancorp, Inc (NYSE:CUBI) has received a consensus recommendation of “Moderate Buy” from the twelve research firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $89.6154.

Several brokerages recently issued reports on CUBI. Piper Sandler boosted their price target on Customers Bancorp from $86.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, June 26th. DA Davidson raised their price objective on Customers Bancorp from $91.00 to $93.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Weiss Ratings restated a “buy (b)” rating on shares of Customers Bancorp in a research report on Monday, June 29th. Fundamental Research set a $94.00 target price on Customers Bancorp in a research note on Wednesday, July 1st. Finally, Hovde Group raised their target price on Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 28th.

Insider Activity

In other news, EVP Philip Watkins sold 3,000 shares of Customers Bancorp stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $75.67, for a total transaction of $227,010.00. Following the sale, the executive vice president directly owned 43,993 shares in the company, valued at approximately $3,328,950.31. The trade was a 6.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Jay S. Sidhu sold 60,315 shares of the company’s stock in a transaction dated Wednesday, May 27th. The shares were sold at an average price of $76.23, for a total transaction of $4,597,812.45. Following the completion of the sale, the chairman directly owned 767,557 shares in the company, valued at approximately $58,510,870.11. The trade was a 7.29% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 10.45% of the company’s stock.

Institutional Trading of Customers Bancorp

Large investors have recently bought and sold shares of the stock. Handelsbanken Fonder AB bought a new position in shares of Customers Bancorp during the second quarter valued at $459,000. Versant Capital Management Inc grew its holdings in shares of Customers Bancorp by 41.0% in the 2nd quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock worth $44,000 after purchasing an additional 163 shares during the last quarter. Militia Capital Management LLC bought a new stake in shares of Customers Bancorp in the 1st quarter worth about $865,000. Access Investment Management LLC increased its position in shares of Customers Bancorp by 5.7% during the 1st quarter. Access Investment Management LLC now owns 139,940 shares of the bank’s stock worth $9,713,000 after purchasing an additional 7,525 shares in the last quarter. Finally, Bank of America Corp DE increased its position in shares of Customers Bancorp by 62.0% during the 1st quarter. Bank of America Corp DE now owns 164,595 shares of the bank’s stock worth $11,425,000 after purchasing an additional 63,021 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $78.15 on Wednesday. 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 fifty-two week low of $59.34 and a fifty-two week high of $82.56. The firm has a fifty day moving average price of $76.08 and a two-hundred day moving average price of $74.42. The company has a market cap of $2.64 billion, a PE ratio of 9.92 and a beta of 1.48.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.88 by $0.09. The company 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 business’s revenue was up 57.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.54 EPS. Analysts expect that Customers Bancorp will post 8.35 EPS for the current year.

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.