Shares of Customers Bancorp, Inc (NYSE:CUBI – Get Free Report) have earned an average recommendation of “Moderate Buy” from the twelve ratings firms that are covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $87.50.
A number of equities research analysts recently commented on CUBI shares. Morgan Stanley dropped their price objective on Customers Bancorp from $92.00 to $83.00 and set an “equal weight” rating for the company in a report on Tuesday, March 31st. Zacks Research downgraded Customers Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 10th. JPMorgan Chase & Co. lowered their price target on Customers Bancorp from $90.00 to $84.00 and set an “overweight” rating for the company in a report on Wednesday, April 1st. Weiss Ratings upgraded Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Finally, Piper Sandler restated an “overweight” rating and issued a $86.00 price target (up from $82.00) on shares of Customers Bancorp in a report on Monday, April 27th.
View Our Latest Analysis on CUBI
Customers Bancorp Trading Up 0.9%
Customers Bancorp (NYSE:CUBI – Get Free Report) last released its quarterly earnings data on Thursday, April 23rd. The bank reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.88 by $0.09. The business had revenue of $225.40 million during the quarter, compared to the consensus estimate of $223.51 million. Customers Bancorp had a return on equity of 14.12% and a net margin of 18.63%.The firm’s revenue was up 57.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.54 earnings per share. Research analysts forecast that Customers Bancorp will post 8.52 EPS for the current year.
Insiders Place Their Bets
In other Customers Bancorp news, Chairman Jay S. Sidhu sold 60,315 shares of the stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $76.23, for a total value of $4,597,812.45. Following the completion of the sale, the chairman directly owned 767,557 shares in the company, valued at $58,510,870.11. This represents a 7.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Philip Watkins sold 3,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $75.67, for a total value of $227,010.00. Following the completion of the sale, the executive vice president owned 43,993 shares of the company’s stock, valued at $3,328,950.31. This trade represents a 6.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 10.45% of the company’s stock.
Institutional Investors Weigh In On Customers Bancorp
Several large investors have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in shares of Customers Bancorp by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock worth $162,424,000 after acquiring an additional 66,031 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Customers Bancorp by 3.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,942,989 shares of the bank’s stock worth $134,859,000 after buying an additional 65,954 shares in the last quarter. State Street Corp grew its holdings in shares of Customers Bancorp by 1.8% during the fourth quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock worth $133,998,000 after buying an additional 32,449 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Customers Bancorp by 7.9% during the third quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after buying an additional 69,200 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Customers Bancorp by 3,074.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after buying an additional 844,141 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.
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.
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