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

Customers Bancorp, Inc (NYSE:CUBI) hit a new 52-week high during mid-day trading on Wednesday. The company traded as high as $89.60 and last traded at $87.0350, with a volume of 7,592 shares changing hands. The stock had previously closed at $86.26.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $88.00 to $89.00 and gave the stock a “market perform” rating in a report on Monday, August 3rd. TD Cowen lifted their target price on Customers Bancorp from $91.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, October 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Customers Bancorp in a research report on Friday, September 25th. JPMorgan Chase & Co. upped their price target on Customers Bancorp from $92.00 to $100.00 and gave the stock an “overweight” rating in a report on Monday, October 26th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $97.00 price target on shares of Customers Bancorp in a research report on Monday, October 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $94.36.

Customers Bancorp Trading Up 2.1%

The company has a debt-to-equity ratio of 1.05, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a fifty day simple moving average of $78.25 and a two-hundred day simple moving average of $75.98. The firm has a market capitalization of $2.95 billion, a P/E ratio of 10.56 and a beta of 1.43.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, October 22nd. The bank reported $2.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.13. Customers Bancorp had a net margin of 19.11% and a return on equity of 13.73%. The company had revenue of $240.24 million for the quarter, compared to analyst estimates of $237.18 million. During the same quarter in the previous year, the firm posted $2.20 earnings per share. On average, equities research analysts anticipate that Customers Bancorp, Inc will post 8.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Chairman Jay Sidhu sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, October 29th. The shares were sold at an average price of $87.40, for a total value of $4,370,000.00. Following the transaction, the chairman directly owned 617,864 shares in the company, valued at approximately $54,001,313.60. This represents a 7.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 10.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new stake in shares of Customers Bancorp in the 2nd quarter worth approximately $40,000. Bessemer Group Inc. increased its stake in shares of Customers Bancorp by 78.4% during the first quarter. Bessemer Group Inc. now owns 528 shares of the bank’s stock valued at $37,000 after buying an additional 232 shares during the period. Versant Capital Management Inc raised its holdings in shares of Customers Bancorp by 41.0% during the second quarter. Versant Capital Management Inc now owns 561 shares of the bank’s stock valued at $44,000 after acquiring an additional 163 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Customers Bancorp during the second quarter valued at approximately $71,000. Finally, Rockefeller Capital Management L.P. raised its holdings in shares of Customers Bancorp by 528.3% during the fourth quarter. Rockefeller Capital Management L.P. now owns 1,445 shares of the bank’s stock valued at $106,000 after acquiring an additional 1,215 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Company Profile

Customers Bancorp, Inc is a bank holding company headquartered in Wyomissing, Pennsylvania. Through its principal subsidiary, Customers Bank, the company provides banking and financial services to businesses, entrepreneurs, professionals and consumers in the United States.

Customers Bank offers commercial and industrial lending, commercial real estate financing, small business lending, mortgage warehouse financing, venture banking and other specialized credit products. Its services also include business and consumer deposit accounts, cash management, treasury services, online banking and payment solutions.