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

Shares of Customers Bancorp, Inc (NYSE:CUBI) have received a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation, three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $87.80.

CUBI has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Stephens cut Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target on the stock. in a report on Friday, February 6th. Zacks Research raised Customers Bancorp from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Customers Bancorp in a research report on Monday, December 29th. Finally, Morgan Stanley assumed coverage on Customers Bancorp in a research report on Monday, December 8th. They issued an “equal weight” rating and a $90.00 target price on the stock.

Customers Bancorp Price Performance

CUBI stock opened at $72.64 on Friday. The firm’s 50-day moving average price is $75.89 and its two-hundred day moving average price is $69.93. Customers Bancorp has a 12-month low of $40.75 and a 12-month high of $82.56. The stock has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.72 and a beta of 1.65. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The firm had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. During the same quarter in the previous year, the firm posted $1.36 EPS. As a group, equities analysts predict that Customers Bancorp will post 6.45 earnings per share for the current year.

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

Insider Activity

In related news, EVP Philip Watkins sold 2,900 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 50,849 shares of the company’s stock, valued at approximately $3,307,218.96. The trade was a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jay S. Sidhu sold 128,185 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the sale, the chief executive officer directly owned 790,031 shares of the company’s stock, valued at approximately $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 138,564 shares of company stock worth $9,612,479 over the last 90 days. Company insiders own 8.69% of the company’s stock.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of CUBI. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp in the 3rd quarter valued at $29,000. Transamerica Financial Advisors LLC grew its position in shares of 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 in the last quarter. Farther Finance Advisors LLC grew its position in shares of 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 in the last quarter. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the first quarter worth about $37,000. Finally, Aster Capital Management DIFC Ltd lifted its position in shares of Customers Bancorp by 451.2% in the third quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after buying an additional 767 shares in 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.