Customers Bancorp (NYSE:CUBI) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Customers Bancorp (NYSE:CUBI) from a hold rating to a buy rating in a research note published on Saturday.

Several other research firms have also recently issued reports on CUBI. Morgan Stanley began coverage on Customers Bancorp in a report on Monday, December 8th. They set an “equal weight” rating and a $90.00 price objective on the stock. Stephens increased their target price on Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “hold (c+)” rating on shares of Customers Bancorp in a research note on Monday, December 29th. Hovde Group upped their price objective on shares of Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research note on Thursday, October 30th. Finally, Zacks Research lowered shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a report on Friday, December 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $84.80.

Customers Bancorp Price Performance

NYSE:CUBI opened at $78.53 on Friday. Customers Bancorp has a 12-month low of $40.75 and a 12-month high of $79.99. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 15.93 and a beta of 1.61. The company’s 50-day moving average is $72.35 and its two-hundred day moving average is $68.15. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, October 23rd. The bank reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The business had revenue of $231.77 million during the quarter, compared to analyst estimates of $185.10 million. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. During the same quarter in the previous year, the business posted $1.34 earnings per share. Research analysts expect that Customers Bancorp will post 6.45 EPS for the current year.

Insider Transactions at Customers Bancorp

In related news, EVP Philip Watkins sold 2,900 shares of the 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 completion of the sale, the executive vice president owned 50,849 shares of the company’s stock, valued at approximately $3,307,218.96. This represents a 5.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay S. Sidhu sold 128,185 shares of the firm’s 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 completion of the transaction, the chief executive officer owned 790,031 shares in the company, valued at $54,851,852.33. The trade was a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 211,900 shares of company stock worth $14,595,664. 8.69% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently made changes to their positions in CUBI. Caitong International Asset Management Co. Ltd acquired a new stake in Customers Bancorp in the 3rd quarter valued at $29,000. Farther Finance Advisors LLC lifted its stake 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 worth $44,000 after purchasing an additional 260 shares in the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Customers Bancorp in the first quarter worth about $37,000. Aster Capital Management DIFC Ltd grew its stake 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 valued at $61,000 after buying an additional 767 shares in the last quarter. Finally, CX Institutional acquired a new stake in shares of Customers Bancorp in the third quarter valued at about $67,000. Institutional investors and hedge funds 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.