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

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $62.22.

Several equities research analysts have issued reports on the stock. B. Riley boosted their price objective on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Keefe, Bruyette & Woods increased their price target on Customers Bancorp from $52.00 to $62.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. Raymond James reduced their price objective on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Stephens increased their target price on Customers Bancorp from $53.00 to $55.00 and gave the company an “equal weight” rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st.

Insiders Place Their Bets

In related news, insider Glenn Hedde sold 5,002 shares of Customers Bancorp stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $53.68, for a total value of $268,507.36. Following the completion of the transaction, the insider now directly owns 66,256 shares in the company, valued at approximately $3,556,622.08. This trade represents a 7.02 % decrease in their ownership of the stock. 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 86,578 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $56.54, for a total value of $4,895,120.12. Following the sale, the chief executive officer now owns 1,090,598 shares in the company, valued at $61,662,410.92. The trade was a 7.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,440 shares of company stock worth $5,425,815 in the last three months. 6.92% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC boosted its holdings in Customers Bancorp by 94.3% in the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock worth $26,344,000 after purchasing an additional 266,462 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Customers Bancorp by 88.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after buying an additional 225,785 shares during the period. State Street Corp grew its position in shares of Customers Bancorp by 10.5% during the 3rd quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after buying an additional 169,982 shares during the last quarter. Peregrine Capital Management LLC bought a new position in Customers Bancorp in the second quarter worth about $7,690,000. Finally, American Century Companies Inc. lifted its holdings in Customers Bancorp by 14.6% in the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after acquiring an additional 87,557 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $47.71 on Tuesday. The business’s fifty day moving average price is $51.53 and its 200 day moving average price is $50.48. Customers Bancorp has a twelve month low of $42.31 and a twelve month high of $68.49. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $1.50 billion, a P/E ratio of 7.75 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business’s revenue for the quarter was down 23.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.59 earnings per share. As a group, research analysts anticipate that Customers Bancorp will post 5.63 earnings per share for the current year.

About Customers Bancorp

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.