Piper Sandler Has Lowered Expectations for Customers Bancorp (NYSE:CUBI) Stock Price

Customers Bancorp (NYSE:CUBI) had its price target dropped by Piper Sandler from $61.00 to $55.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “neutral” rating on the bank’s stock. Piper Sandler’s target price suggests a potential upside of 18.38% from the company’s current price.

A number of other brokerages have also issued reports on CUBI. Raymond James dropped their target price on Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the company from $57.00 to $52.00 in a research report on Monday. Wedbush lowered Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $79.00 to $53.00 in a research report on Tuesday, September 24th. Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research report on Friday, August 9th. Finally, B. Riley lifted their target price on Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $61.88.

Customers Bancorp Trading Up 1.8 %

NYSE:CUBI opened at $46.46 on Monday. Customers Bancorp has a fifty-two week low of $40.61 and a fifty-two week high of $68.49. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The stock has a market capitalization of $1.47 billion, a PE ratio of 7.41 and a beta of 1.61. The business’s 50-day simple moving average is $47.16 and its 200-day simple moving average is $48.93.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, October 31st. The bank reported $1.34 earnings per share for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The business had revenue of $167.10 million for the quarter, compared to the consensus estimate of $191.61 million. During the same quarter last year, the firm earned $2.59 EPS. The company’s revenue for the quarter was down 23.2% on a year-over-year basis. Sell-side analysts expect that Customers Bancorp will post 6.11 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 dated Tuesday, August 13th. The stock was bought at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the purchase, the chief executive officer now owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CUBI. Allspring Global Investments Holdings LLC boosted its stake in shares of Customers Bancorp by 2.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 261,847 shares of the bank’s stock worth $13,894,000 after acquiring an additional 7,047 shares during the period. Capstone Investment Advisors LLC bought a new stake in Customers Bancorp in the 1st quarter valued at $220,000. Texas Permanent School Fund Corp boosted its stake in Customers Bancorp by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after purchasing an additional 353 shares during the period. Quantbot Technologies LP boosted its stake in Customers Bancorp by 7.5% in the 1st quarter. Quantbot Technologies LP now owns 17,401 shares of the bank’s stock valued at $923,000 after purchasing an additional 1,217 shares during the period. Finally, Empowered Funds LLC boosted its stake in Customers Bancorp by 7.9% in the 1st quarter. Empowered Funds LLC now owns 19,128 shares of the bank’s stock valued at $1,015,000 after purchasing an additional 1,400 shares during the period. 89.29% of the stock is currently owned by institutional investors.

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.