Customers Bancorp, Inc (NYSE:CUBI) Receives $87.80 Average PT from Brokerages

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

A number of research firms have issued reports on CUBI. Raymond James Financial reissued a “strong-buy” rating and set a $95.00 target price on shares of Customers Bancorp in a research note on Tuesday, January 6th. Wall Street Zen downgraded Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. Stephens lowered Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price objective for the company. in a report on Friday, February 6th. Keefe, Bruyette & Woods lifted their target price on Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Monday, October 27th. Finally, B. Riley Financial reiterated a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th.

Insider Transactions at Customers Bancorp

In other news, 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 value of $8,899,884.55. Following the completion of the transaction, the chief executive officer directly owned 790,031 shares in the company, valued at $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Philip Watkins sold 2,900 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $65.04, for a total transaction of $188,616.00. Following the transaction, the executive vice president owned 50,849 shares in the company, valued at $3,307,218.96. This represents a 5.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 138,564 shares of company stock valued at $9,612,479 in the last quarter. 6.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Customers Bancorp

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Customers Bancorp by 8.3% during the 4th quarter. AQR Capital Management LLC now owns 23,955 shares of the bank’s stock valued at $1,752,000 after purchasing an additional 1,839 shares during the period. Cetera Investment Advisers bought a new position in Customers Bancorp during the fourth quarter valued at about $224,000. Trexquant Investment LP boosted its stake in Customers Bancorp by 89.7% during the fourth quarter. Trexquant Investment LP now owns 40,635 shares of the bank’s stock valued at $2,971,000 after buying an additional 19,213 shares in the last quarter. Jump Financial LLC grew its holdings in Customers Bancorp by 201.2% during the fourth quarter. Jump Financial LLC now owns 50,900 shares of the bank’s stock worth $3,722,000 after acquiring an additional 34,000 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Customers Bancorp by 3,074.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after acquiring an additional 844,141 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $73.93 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $2.53 billion, a PE ratio of 11.92 and a beta of 1.65. Customers Bancorp has a 1-year low of $40.75 and a 1-year high of $82.56. The business’s fifty day moving average price is $76.01 and its two-hundred day moving average price is $70.11.

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

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

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.