Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp (NYSE:CUBI) had its target price upped by investment analysts at Keefe, Bruyette & Woods from $88.00 to $89.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “market perform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 11.54% from the company’s previous close.

Several other analysts have also recently weighed in on CUBI. Weiss Ratings reissued a “buy (b)” rating on shares of Customers Bancorp in a research note on Monday, June 29th. Piper Sandler raised their target price on Customers Bancorp from $86.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, June 26th. Hovde Group upped their price target on Customers Bancorp from $80.00 to $86.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. DA Davidson increased their price target on Customers Bancorp from $98.00 to $100.00 and gave the company a “buy” rating in a research note on Monday, July 27th. Finally, JPMorgan Chase & Co. raised their price objective on Customers Bancorp from $86.00 to $94.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $90.69.

Customers Bancorp Trading Up 1.4%

NYSE:CUBI traded up $1.11 during mid-day trading on Monday, hitting $79.79. 127,091 shares of the company’s stock were exchanged, compared to its average volume of 362,613. Customers Bancorp has a fifty-two week low of $59.34 and a fifty-two week high of $82.56. 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 firm has a market capitalization of $2.70 billion, a P/E ratio of 9.74 and a beta of 1.48. The company has a 50 day simple moving average of $76.83 and a 200-day simple moving average of $74.53.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Thursday, July 23rd. The bank reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.05. The firm had revenue of $227.28 million during the quarter, compared to analysts’ expectations of $229.24 million. Customers Bancorp had a net margin of 19.07% and a return on equity of 13.80%. The company’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.80 EPS. As a group, research analysts expect that Customers Bancorp will post 8.43 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, EVP Philip Watkins sold 3,000 shares of the business’s 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 transaction, the executive vice president directly owned 43,993 shares of the company’s stock, valued at $3,328,950.31. The trade was a 6.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Samvir S. Sidhu bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $72.58 per share, for a total transaction of $72,580.00. Following the transaction, the chief executive officer owned 521,714 shares in the company, valued at $37,866,002.12. This represents a 0.19% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 94,494 shares of company stock valued at $7,294,032. 10.45% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in shares of Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock valued at $16,279,000 after acquiring an additional 222,546 shares during the period. Tudor Investment Corp ET AL boosted its stake in Customers Bancorp by 247.1% during the third quarter. Tudor Investment Corp ET AL now owns 90,102 shares of the bank’s stock worth $5,890,000 after acquiring an additional 64,141 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Customers Bancorp by 213.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 66,516 shares of the bank’s stock worth $4,864,000 after purchasing an additional 45,299 shares during the period. HighTower Advisors LLC acquired a new stake in Customers Bancorp in the fourth quarter worth $1,534,000. Finally, Intech Investment Management LLC increased its stake in Customers Bancorp by 255.1% in the fourth quarter. Intech Investment Management LLC now owns 120,617 shares of the bank’s stock valued at $8,820,000 after purchasing an additional 86,654 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.