Customers Bancorp, Inc (NYSE:CUBI) Given Average Rating of "Moderate Buy" by Brokerages

Customers Bancorp, Inc (NYSE:CUBI) has received a consensus rating of "Moderate Buy" from ten research firms. The stock has four hold ratings, five buy ratings, and one strong buy rating. The average 12-month price target is $82.88. Recent analyst actions include Zacks Research upgrading to "strong-buy" and DA Davidson raising the price target to $88. Insider trading activity shows significant stock sales by executives. Hedge funds have also adjusted their holdings, with 89.29% of the stock owned by institutional investors.

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $82.8750.

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Several equities research analysts have recently issued reports on CUBI shares. Zacks Research raised shares of Customers Bancorp from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 28th. Cowen reiterated a "buy" rating on shares of Customers Bancorp in a report on Monday, October 27th. Hovde Group boosted their target price on Customers Bancorp from $70.00 to $75.00 and gave the stock a "market perform" rating in a research note on Thursday, October 30th. B. Riley reaffirmed a "buy" rating on shares of Customers Bancorp in a report on Monday, October 27th. Finally, DA Davidson raised their price objective on shares of Customers Bancorp from $77.00 to $88.00 and gave the stock a "buy" rating in a report on Monday, October 27th.

Get Our Latest Stock Analysis on CUBI

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $68.33 on Tuesday. The business has a 50-day simple moving average of $66.28 and a 200-day simple moving average of $63.05. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. Customers Bancorp has a one year low of $40.75 and a one year high of $72.51. The company has a market cap of $2.33 billion, a PE ratio of 13.86 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The company had revenue of $206.82 million during the quarter. On average, equities research analysts forecast that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Insider Activity at Customers Bancorp

In related news, EVP Philip Watkins sold 2,900 shares of the company's stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $65.04, for a total value of $188,616.00. Following the completion of the sale, the executive vice president directly owned 50,849 shares of the company's stock, valued at $3,307,218.96. This represents a 5.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jay S. Sidhu sold 7,479 shares of Customers Bancorp stock in a transaction that occurred on Tuesday, November 25th. The stock was sold at an average price of $70.06, for a total value of $523,978.74. Following the transaction, the chief executive officer directly owned 918,216 shares in the company, valued at approximately $64,330,212.96. This trade represents a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 83,715 shares of company stock valued at $5,695,779 over the last ninety days. Insiders own 6.92% of the company's stock.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd acquired a new stake in Customers Bancorp during the 3rd quarter worth $29,000. Farther Finance Advisors LLC raised its holdings in shares of Customers Bancorp by 63.1% in the third quarter. Farther Finance Advisors LLC now owns 672 shares of the bank's stock valued at $44,000 after buying an additional 260 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Customers Bancorp during the first quarter worth about $37,000. Aster Capital Management DIFC Ltd grew its holdings in shares of Customers Bancorp by 451.2% during 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 during the last quarter. Finally, CX Institutional acquired a new position in Customers Bancorp in the 3rd quarter valued at about $67,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Customers Bancorp Company Profile

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Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.

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