Customers Bancorp, Inc (NYSE:CUBI) Stock Has Average Target Price of $91.36 According to Brokerages

Customers Bancorp, Inc (NYSE:CUBI) has been given an average rating of “Moderate Buy” by the twelve analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $91.18.

CUBI has been the topic of a number of analyst reports. Piper Sandler upped their price objective on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a report on Friday, September 25th. JPMorgan Chase & Co. decreased their target price on shares of Customers Bancorp from $96.00 to $92.00 and set an “overweight” rating on the stock in a research report on Thursday. DA Davidson upped their price target on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a research note on Monday, July 27th. Finally, Keefe, Bruyette & Woods increased their price target on shares of Customers Bancorp from $88.00 to $89.00 and gave the company a “market perform” rating in a report on Monday, August 3rd.

Insiders Place Their Bets

In other Customers Bancorp news, Chairman Jay Sidhu sold 68,821 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $80.09, for a total value of $5,511,873.89. Following the completion of the transaction, the chairman directly owned 667,757 shares of the company’s stock, valued at approximately $53,480,658.13. This trade represents a 9.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have sold 100,000 shares of company stock worth $7,981,084 in the last quarter. Corporate insiders own 10.45% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

Several institutional investors have recently modified their holdings of CUBI. Envestnet Portfolio Solutions Inc. boosted its position in Customers Bancorp by 6.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 7,104 shares of the bank’s stock worth $562,000 after purchasing an additional 461 shares in the last quarter. WINTON GROUP Ltd grew its stake in Customers Bancorp by 43.7% in the 2nd quarter. WINTON GROUP Ltd now owns 29,848 shares of the bank’s stock valued at $2,361,000 after acquiring an additional 9,073 shares during the last quarter. Integrated Wealth Concepts LLC acquired a new stake in Customers Bancorp in the 2nd quarter valued at about $71,000. Squarepoint Ops LLC increased its holdings in Customers Bancorp by 39.9% during the 2nd quarter. Squarepoint Ops LLC now owns 137,530 shares of the bank’s stock valued at $10,879,000 after acquiring an additional 39,215 shares in the last quarter. Finally, Arcus Capital Partners LLC increased its holdings in Customers Bancorp by 20.3% during the 2nd quarter. Arcus Capital Partners LLC now owns 11,276 shares of the bank’s stock valued at $892,000 after acquiring an additional 1,899 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Customers Bancorp Trading Up 2.0%

NYSE CUBI opened at $75.47 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.01. The stock has a market capitalization of $2.55 billion, a P/E ratio of 9.20 and a beta of 1.52. Customers Bancorp has a 52-week low of $59.34 and a 52-week high of $84.38. The firm has a 50-day moving average price of $79.11 and a 200 day moving average price of $76.30.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 23rd. The bank reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $2.00 by $0.05. Customers Bancorp had a return on equity of 13.80% and a net margin of 19.07%.The company had revenue of $227.28 million for the quarter, compared to analyst estimates of $229.24 million. During the same quarter in the previous year, the company earned $1.80 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities research analysts expect that Customers Bancorp will post 8.43 EPS for the current year.

About Customers Bancorp

Customers Bancorp, Inc is a bank holding company whose principal subsidiary, Customers Bank, provides commercial and consumer banking services. The bank offers deposit accounts, commercial and residential real estate lending, business loans, equipment financing, consumer loans and other credit products. It also provides treasury management, payment and cash-management services for business and institutional customers.

Customers Bank focuses on serving small and mid-sized businesses, entrepreneurs, professionals, consumers and select institutional clients.