Customers Bancorp (NYSE:CUBI) Price Target Raised to $95.00

Customers Bancorp (NYSE:CUBI) had its price target lifted by equities researchers at DA Davidson from $93.00 to $95.00 in a research note issued on Monday, Marketbeat reports. The firm presently has a “buy” rating on the bank’s stock. DA Davidson’s price target would suggest a potential upside of 23.55% from the company’s previous close.

CUBI has been the topic of a number of other research reports. Hovde Group increased their price target on Customers Bancorp from $70.00 to $75.00 and gave the company a “market perform” rating in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Customers Bancorp in a research note on Monday, December 29th. Stephens raised their price objective on shares of Customers Bancorp from $62.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Zacks Research downgraded shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Friday, December 26th. Finally, B. Riley restated a “buy” rating on shares of Customers Bancorp in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $85.50.

Customers Bancorp Trading Up 3.2%

NYSE:CUBI traded up $2.37 on Monday, reaching $76.89. 126,573 shares of the company’s stock were exchanged, compared to its average volume of 314,959. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 12.45 and a beta of 1.61. Customers Bancorp has a 52-week low of $40.75 and a 52-week high of $82.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76. The business has a fifty day moving average of $73.42 and a 200-day moving average of $68.65.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The company had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. During the same period in the prior year, the business earned $1.36 EPS. As a group, analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Insider Transactions at Customers Bancorp

In other Customers Bancorp news, Director Bernard Bennett Banks sold 9,000 shares of Customers Bancorp stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $66.93, for a total transaction of $602,370.00. Following the completion of the transaction, the director owned 7,524 shares in the company, valued at approximately $503,581.32. The trade was a 54.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jay S. Sidhu sold 128,185 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $69.43, for a total transaction of $8,899,884.55. Following the sale, the chief executive officer owned 790,031 shares in the company, valued at approximately $54,851,852.33. This trade represents a 13.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 211,900 shares of company stock valued at $14,595,664 in the last 90 days. 6.92% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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