Customers Bancorp (CUBI) – Research Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of Customers Bancorp (NYSE: CUBI) recently:

• 11/23/2024 – Customers Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/15/2024 – Customers Bancorp was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 11/11/2024 – Customers Bancorp had its price target raised by analysts at Stephens from $53.00 to $55.00. They now have an “equal weight” rating on the stock.
• 11/4/2024 – Customers Bancorp was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating.
• 11/4/2024 – Customers Bancorp had its price target lowered by analysts at Piper Sandler from $61.00 to $55.00. They now have a “neutral” rating on the stock.
• 11/4/2024 – Customers Bancorp was downgraded by analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating. They now have a $52.00 price target on the stock, down previously from $57.00.
• 11/4/2024 – Customers Bancorp had its price target raised by analysts at B. Riley from $78.00 to $80.00. They now have a “buy” rating on the stock.
• 10/2/2024 – Customers Bancorp had its price target lowered by analysts at Raymond James from $80.00 to $70.00. They now have a “strong-buy” rating on the stock.

Customers Bancorp Stock Up 2.8 %

Shares of NYSE:CUBI traded up $1.55 during midday trading on Monday, reaching $57.66. The company’s stock had a trading volume of 493,675 shares, compared to its average volume of 371,481. Customers Bancorp, Inc. has a 12-month low of $42.31 and a 12-month high of $68.49. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average of $48.47 and a 200-day moving average of $49.55. The firm has a market capitalization of $1.81 billion, a P/E ratio of 9.36 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $1.34 EPS for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $191.61 million. During the same quarter in the previous year, the company earned $2.59 EPS. The company’s quarterly revenue was down 23.2% compared to the same quarter last year. On average, research analysts anticipate that Customers Bancorp, Inc. will post 5.63 earnings per share for the current year.

Insider Buying and Selling at Customers Bancorp

In related news, Director Robert Neil Mackay sold 4,000 shares of Customers Bancorp stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $53.78, for a total transaction of $215,120.00. Following the sale, the director now owns 4,567 shares of the company’s stock, valued at approximately $245,613.26. This trade represents a 46.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jay S. Sidhu sold 860 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $54.73, for a total transaction of $47,067.80. Following the sale, the chief executive officer now directly owns 1,189,738 shares of the company’s stock, valued at approximately $65,114,360.74. This trade represents a 0.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,440 shares of company stock worth $5,425,815 in the last three months. 6.92% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC bought a new stake in Customers Bancorp in the second quarter worth $2,508,000. Intech Investment Management LLC bought a new stake in shares of Customers Bancorp in the 2nd quarter worth about $698,000. Thrivent Financial for Lutherans lifted its holdings in shares of Customers Bancorp by 26.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 71,473 shares of the bank’s stock worth $3,429,000 after acquiring an additional 15,011 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of Customers Bancorp by 252.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 253,954 shares of the bank’s stock worth $12,185,000 after purchasing an additional 181,819 shares during the period. Finally, Denali Advisors LLC grew its holdings in Customers Bancorp by 37.0% during the 2nd quarter. Denali Advisors LLC now owns 47,044 shares of the bank’s stock valued at $2,257,000 after purchasing an additional 12,700 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

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.