Customers Bancorp (NYSE:CUBI) Stock Rating Upgraded by Wall Street Zen

Customers Bancorp (NYSE:CUBI) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday.

Several other analysts also recently weighed in on CUBI. TD Cowen lifted their target price on shares of Customers Bancorp from $89.00 to $95.00 and gave the company a “buy” rating in a report on Monday, October 27th. DA Davidson lifted their price objective on Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a report on Monday, October 27th. Zacks Research cut Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, December 26th. Cowen reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Finally, Raymond James Financial restated a “strong-buy” rating and issued a $95.00 price target on shares of Customers Bancorp in a research note on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.80.

Customers Bancorp Trading Down 0.3%

Shares of CUBI stock opened at $78.53 on Friday. The company has a market capitalization of $2.68 billion, a P/E ratio of 15.93 and a beta of 1.61. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $72.35 and its two-hundred day moving average is $68.18. Customers Bancorp has a twelve month low of $40.75 and a twelve month high of $79.99.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, October 23rd. The bank reported $2.20 EPS for the quarter, topping the consensus estimate of $1.90 by $0.30. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The business had revenue of $231.77 million during the quarter, compared to analysts’ expectations of $185.10 million. During the same quarter in the prior year, the business earned $1.34 earnings per share. Equities analysts forecast that Customers Bancorp will post 6.45 EPS for the current year.

Insider Buying and Selling

In related news, CEO Jay S. Sidhu sold 128,185 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $69.43, for a total value of $8,899,884.55. Following the sale, the chief executive officer directly owned 790,031 shares in the company, valued at $54,851,852.33. The trade was a 13.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Philip Watkins sold 2,900 shares of the stock in a transaction dated 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 directly owned 50,849 shares in the company, valued at approximately $3,307,218.96. The trade was a 5.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 211,900 shares of company stock valued at $14,595,664. 8.69% of the stock is owned by insiders.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System grew its position in shares of Customers Bancorp by 1.8% in the third quarter. Arizona State Retirement System now owns 8,879 shares of the bank’s stock valued at $580,000 after purchasing an additional 155 shares during the period. Alliancebernstein L.P. boosted its stake in Customers Bancorp by 0.5% in the 3rd quarter. Alliancebernstein L.P. now owns 34,054 shares of the bank’s stock worth $2,226,000 after buying an additional 182 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Customers Bancorp by 4.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank’s stock valued at $267,000 after buying an additional 185 shares during the period. Concurrent Investment Advisors LLC increased its stake in shares of Customers Bancorp by 4.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank’s stock valued at $327,000 after acquiring an additional 243 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Customers Bancorp by 0.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 80,896 shares of the bank’s stock worth $4,752,000 after acquiring an additional 244 shares during the period. Hedge funds and other institutional investors 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.