Customers Bancorp (NYSE:CUBI) Stock Rating Lowered by Wedbush

Wedbush cut shares of Customers Bancorp (NYSE:CUBI) from an outperform rating to a neutral rating in a report released on Tuesday, MarketBeat.com reports. Wedbush currently has $53.00 price target on the bank’s stock, down from their prior price target of $79.00. Wedbush also issued estimates for Customers Bancorp’s Q3 2024 earnings at $1.43 EPS, Q4 2024 earnings at $1.49 EPS, FY2024 earnings at $6.09 EPS, Q1 2025 earnings at $1.54 EPS, Q2 2025 earnings at $1.61 EPS, Q3 2025 earnings at $1.67 EPS, Q4 2025 earnings at $1.68 EPS, FY2025 earnings at $6.50 EPS, Q1 2026 earnings at $1.64 EPS, Q2 2026 earnings at $1.72 EPS and FY2026 earnings at $7.00 EPS.

A number of other analysts have also issued reports on the company. Keefe, Bruyette & Woods lowered their price target on Customers Bancorp from $76.00 to $63.00 and set an outperform rating on the stock in a research note on Friday, August 9th. B. Riley lifted their price target on Customers Bancorp from $77.00 to $78.00 and gave the stock a buy rating in a research note on Monday, July 29th. Jefferies Financial Group lowered their price target on Customers Bancorp from $59.00 to $57.00 and set a buy rating on the stock in a research note on Wednesday, July 3rd. Hovde Group lowered Customers Bancorp from an outperform rating to a market perform rating and set a $49.00 price objective on the stock. in a research note on Friday, August 9th. Finally, DA Davidson boosted their price objective on Customers Bancorp from $71.00 to $79.00 and gave the stock a buy rating in a research note on Monday, July 29th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Customers Bancorp has a consensus rating of Moderate Buy and an average price target of $62.25.

Customers Bancorp Stock Up 1.2 %

Shares of CUBI opened at $45.36 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.75. The stock’s 50 day moving average is $51.46 and its two-hundred day moving average is $49.82. The firm has a market cap of $1.43 billion, a P/E ratio of 6.34 and a beta of 1.62. Customers Bancorp has a 12 month low of $31.16 and a 12 month high of $68.49.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The business’s revenue was up 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.65 earnings per share. Analysts predict that Customers Bancorp will post 6.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Customers Bancorp news, CEO Samvir S. Sidhu bought 2,500 shares of Customers Bancorp stock in a transaction on Tuesday, August 13th. The shares were bought at an average price of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the transaction, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 6.92% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. Ridgewood Investments LLC purchased a new stake in shares of Customers Bancorp in the 2nd quarter valued at $48,000. Innealta Capital LLC purchased a new stake in shares of Customers Bancorp in the 2nd quarter valued at $74,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Customers Bancorp in the 2nd quarter valued at $151,000. Aigen Investment Management LP purchased a new stake in shares of Customers Bancorp in the 4th quarter valued at $209,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Customers Bancorp in the 1st quarter valued at $220,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.