Customers Bancorp (NYSE:CUBI) Upgraded at Zacks Research

Customers Bancorp (NYSE:CUBI) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

A number of other research firms also recently weighed in on CUBI. Weiss Ratings reiterated a “hold (c+)” rating on shares of Customers Bancorp in a research note on Monday, December 29th. Stephens raised their price target on shares of Customers Bancorp from $62.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 28th. Morgan Stanley initiated coverage on Customers Bancorp in a research report on Monday, December 8th. They set an “equal weight” rating and a $90.00 target price for the company. Hovde Group increased their price objective on Customers Bancorp from $70.00 to $75.00 and gave the stock a “market perform” rating in a research note on Thursday, October 30th. Finally, Wall Street Zen downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $87.50.

Customers Bancorp Stock Performance

NYSE:CUBI opened at $75.65 on Monday. The firm’s 50-day moving average is $73.91 and its 200-day moving average is $68.83. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 12.20 and a beta of 1.61. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. Customers Bancorp has a 52-week low of $40.75 and a 52-week high of $82.56.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.02. The firm had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same period in the previous year, the company posted $1.36 earnings per share. Equities research analysts anticipate that Customers Bancorp will post 6.45 earnings per share for the current year.

Insiders Place Their Bets

In other Customers Bancorp news, Director Bernard Bennett Banks sold 9,000 shares of the company’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 of the company’s stock, valued at approximately $503,581.32. This represents a 54.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jay S. Sidhu sold 128,185 shares of Customers Bancorp stock in a transaction on 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 completion of the sale, the chief executive officer directly owned 790,031 shares of the company’s stock, valued at $54,851,852.33. This trade represents a 13.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 211,900 shares of company stock valued at $14,595,664. Insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. Caitong International Asset Management Co. Ltd acquired a new stake in shares of Customers Bancorp during the 3rd quarter worth approximately $29,000. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp during the 1st quarter valued at $37,000. Farther Finance Advisors LLC lifted its stake in shares of Customers Bancorp by 63.1% in the 3rd 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 boosted its position in shares of Customers Bancorp by 451.2% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 937 shares of the bank’s stock worth $61,000 after purchasing an additional 767 shares during the last quarter. Finally, CX Institutional acquired a new stake in shares of Customers Bancorp during the third quarter worth $67,000. 89.29% of the stock is 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.