B. Riley Forecasts Strong Price Appreciation for Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp (NYSE:CUBI) had its price target upped by B. Riley from $78.00 to $80.00 in a research note issued to investors on Monday, Benzinga reports. B. Riley currently has a buy rating on the bank’s stock. B. Riley also issued estimates for Customers Bancorp’s Q4 2024 earnings at $1.39 EPS and FY2025 earnings at $7.23 EPS.

Several other research analysts have also recently issued reports on the company. DA Davidson raised 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. Keefe, Bruyette & Woods cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $57.00 to $52.00 in a research note on Monday. Raymond James dropped their price objective on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Wednesday, October 2nd. Wedbush cut shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. Finally, Piper Sandler lowered their price target on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Customers Bancorp currently has a consensus rating of “Hold” and an average target price of $61.88.

Customers Bancorp Trading Up 19.5 %

NYSE CUBI opened at $55.50 on Monday. Customers Bancorp has a 12-month low of $40.61 and a 12-month high of $68.49. The company has a fifty day simple moving average of $47.19 and a two-hundred day simple moving average of $48.97. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.78. The stock has a market cap of $1.76 billion, a P/E ratio of 9.01 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) 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 firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same period in the previous year, the company earned $2.59 earnings per share. Customers Bancorp’s revenue was down 23.2% on a year-over-year basis. On average, analysts forecast that Customers Bancorp will post 6.11 earnings per share for the current year.

Insider Activity at Customers Bancorp

In other news, CEO Samvir S. Sidhu acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was acquired 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 owns 144,504 shares in the company, valued at approximately $6,579,267.12. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.92% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Ridgewood Investments LLC acquired a new stake in Customers Bancorp in the 2nd quarter valued at $48,000. GAMMA Investing LLC raised its position in Customers Bancorp by 21.7% during the third quarter. GAMMA Investing LLC now owns 1,580 shares of the bank’s stock worth $73,000 after acquiring an additional 282 shares during the period. Innealta Capital LLC purchased a new position in Customers Bancorp during the second quarter valued at $74,000. CWM LLC grew its position in shares of Customers Bancorp by 14.2% in the third quarter. CWM LLC now owns 2,198 shares of the bank’s stock valued at $102,000 after purchasing an additional 274 shares during the period. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Customers Bancorp during the second quarter worth about $151,000. 89.29% of the stock is owned by institutional investors and hedge funds.

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.