Customers Bancorp (NYSE:CUBI) Hits New 1-Year High – Should You Buy?

Customers Bancorp, Inc (NYSE:CUBI)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $78.44 and last traded at $78.3790, with a volume of 69674 shares changing hands. The stock had previously closed at $77.17.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. TD Cowen lifted their price objective on shares of Customers Bancorp from $89.00 to $95.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Cowen restated a “buy” rating on shares of Customers Bancorp in a report on Monday, October 27th. Keefe, Bruyette & Woods lifted their price target on shares of Customers Bancorp from $76.00 to $82.00 and gave the stock a “market perform” rating in a research note on Monday, October 27th. Raymond James Financial reissued a “strong-buy” rating and issued a $95.00 price objective on shares of Customers Bancorp in a research report on Tuesday. Finally, DA Davidson boosted their target price on Customers Bancorp from $77.00 to $88.00 and gave the company a “buy” rating in a research report on Monday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.80.

Customers Bancorp Stock Down 1.0%

The company has a market cap of $2.68 billion, a P/E ratio of 15.89 and a beta of 1.61. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.98 and a current ratio of 0.98. The business’s fifty day moving average is $71.08 and its two-hundred day moving average is $67.25.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Monday, September 8th. The bank reported $1.80 EPS for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. The business had revenue of $206.82 million for the quarter. Equities analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Insider Buying and Selling at Customers Bancorp

In other news, Director Bernard Bennett Banks sold 9,000 shares of the firm’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $66.93, for a total transaction of $602,370.00. Following the transaction, the director owned 7,524 shares in the company, valued at approximately $503,581.32. This trade represents a 54.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Philip Watkins sold 2,900 shares of Customers Bancorp stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $65.04, for a total value of $188,616.00. Following the completion of the sale, the executive vice president owned 50,849 shares of the company’s stock, valued at $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. Insiders sold a total of 211,900 shares of company stock valued at $14,595,664 in the last ninety days. Corporate insiders own 8.69% of the company’s stock.

Institutional Investors Weigh In On Customers Bancorp

A number of hedge funds have recently made changes to their positions in CUBI. Assenagon Asset Management S.A. raised its position in shares of Customers Bancorp by 29.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 290,919 shares of the bank’s stock valued at $19,017,000 after purchasing an additional 65,382 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new position in Customers Bancorp during the 2nd quarter valued at approximately $418,000. First Eagle Investment Management LLC increased its stake in Customers Bancorp by 15.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 99,717 shares of the bank’s stock valued at $5,857,000 after purchasing an additional 13,600 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Customers Bancorp by 20.3% in the first quarter. Intech Investment Management LLC now owns 67,262 shares of the bank’s stock worth $3,377,000 after buying an additional 11,346 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Customers Bancorp by 7.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 398,723 shares of the bank’s stock worth $25,718,000 after buying an additional 28,928 shares during the period. 89.29% of the stock is currently owned by hedge funds and other 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.