Customers Bancorp, Inc (NYSE:CUBI – Get Free Report)’s stock price reached a new 52-week high during mid-day trading on Tuesday after Keefe, Bruyette & Woods raised their price target on the stock from $88.00 to $89.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Customers Bancorp traded as high as $82.79 and last traded at $82.8890, with a volume of 111579 shares. The stock had previously closed at $80.55.
Several other equities analysts have also weighed in on the stock. Fundamental Research set a $94.00 price objective on shares of Customers Bancorp in a research report on Wednesday, July 1st. Hovde Group boosted their target price on shares of Customers Bancorp from $80.00 to $86.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. JPMorgan Chase & Co. increased their target price on shares of Customers Bancorp from $86.00 to $94.00 and gave the company an “overweight” rating in a research note on Wednesday, July 1st. DA Davidson raised their target price on shares of Customers Bancorp from $98.00 to $100.00 and gave the stock a “buy” rating in a report on Monday, July 27th. Finally, Piper Sandler lifted their price target on shares of Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $90.69.
View Our Latest Stock Analysis on CUBI
Insider Activity at Customers Bancorp
Institutional Trading of Customers Bancorp
Several large investors have recently added to or reduced their stakes in CUBI. Royal Bank of Canada grew its holdings in shares of Customers Bancorp by 11.5% during the first quarter. Royal Bank of Canada now owns 5,344 shares of the bank’s stock valued at $269,000 after buying an additional 553 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Customers Bancorp by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,625 shares of the bank’s stock worth $885,000 after acquiring an additional 786 shares during the period. Millennium Management LLC boosted its position in Customers Bancorp by 71.4% during the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after acquiring an additional 114,430 shares during the period. Jones Financial Companies Lllp purchased a new position in Customers Bancorp during the 1st quarter valued at about $37,000. Finally, Creative Planning purchased a new position in Customers Bancorp during the 2nd quarter valued at about $250,000. 89.29% of the stock is owned by institutional investors and hedge funds.
Customers Bancorp Stock Up 3.0%
The business has a fifty day moving average price of $76.93 and a two-hundred day moving average price of $74.55. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.01. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 10.12 and a beta of 1.49.
Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 EPS for the quarter, topping the consensus estimate of $2.00 by $0.05. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The business had revenue of $227.28 million during the quarter, compared to analysts’ expectations of $229.24 million. During the same period last year, the company posted $1.80 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities analysts predict that Customers Bancorp, Inc will post 8.43 earnings per share for the current year.
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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