Wedbush Lowers Customers Bancorp (NYSE:CUBI) to Neutral

Wedbush lowered shares of Customers Bancorp (NYSE:CUBI) from an outperform rating to a neutral rating in a report published on Tuesday morning, Marketbeat.com reports. The firm currently has $53.00 target price on the bank’s stock, down from their prior target price 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 weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Customers Bancorp from $76.00 to $63.00 and set an outperform rating for the company in a research note on Friday, August 9th. DA Davidson upped their price target on shares of Customers Bancorp from $71.00 to $79.00 and gave the stock a buy rating in a research report on Monday, July 29th. Jefferies Financial Group cut their price objective on shares of Customers Bancorp from $59.00 to $57.00 and set a buy rating on the stock in a report on Wednesday, July 3rd. B. Riley upped their target price on Customers Bancorp from $77.00 to $78.00 and gave the stock a buy rating in a report on Monday, July 29th. Finally, Hovde Group downgraded Customers Bancorp from an outperform rating to a market perform rating and set a $49.00 price target on the stock. in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Customers Bancorp currently has a consensus rating of Moderate Buy and a consensus price target of $62.25.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $44.78 on Tuesday. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 6.25 and a beta of 1.62. The firm has a 50-day moving average of $51.79 and a two-hundred day moving average of $49.88. Customers Bancorp has a 1 year low of $31.16 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.06. The company had revenue of $198.69 million for the quarter, compared to analysts’ expectations of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. Customers Bancorp’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.65 earnings per share. On average, research analysts forecast that Customers Bancorp will post 6.34 earnings per share for the current year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Samvir S. Sidhu purchased 2,500 shares of the stock in a transaction on Tuesday, August 13th. The stock was acquired at an average price of $45.53 per share, with a total value of $113,825.00. Following the completion of the acquisition, the chief executive officer now owns 144,504 shares in the company, valued at $6,579,267.12. The acquisition was disclosed in a filing with the SEC, which is available at this link. 6.92% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Wedge Capital Management L L P NC acquired a new position in shares of Customers Bancorp in the 2nd quarter valued at $2,508,000. Hillsdale Investment Management Inc. acquired a new position in shares of Customers Bancorp in the first quarter valued at about $4,266,000. SG Americas Securities LLC raised its stake in shares of Customers Bancorp by 208.5% in the first quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock worth $1,148,000 after purchasing an additional 14,621 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Customers Bancorp during the first quarter worth about $1,333,000. Finally, Assenagon Asset Management S.A. boosted its position in Customers Bancorp by 252.1% in the second quarter. Assenagon Asset Management S.A. now owns 253,954 shares of the bank’s stock valued at $12,185,000 after buying an additional 181,819 shares during the last quarter. 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.