Customers Bancorp (NYSE:CUBI) Downgraded to “Neutral” at Wedbush

Wedbush lowered shares of Customers Bancorp (NYSE:CUBI) from an outperform rating to a neutral rating in a report released on Tuesday, MarketBeat Ratings reports. Wedbush currently has $53.00 price target on the bank’s stock, down from their previous 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 equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods dropped their price objective on Customers Bancorp from $76.00 to $63.00 and set an outperform rating on the stock in a research report on Friday, August 9th. B. Riley raised their price target on Customers Bancorp from $77.00 to $78.00 and gave the stock a buy rating in a report 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 for the company in a report on Wednesday, July 3rd. DA Davidson raised their price target on Customers Bancorp from $71.00 to $79.00 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 for the company. in a report on Friday, August 9th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Customers Bancorp currently has an average rating of Moderate Buy and an average price target of $62.25.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $45.36 on Tuesday. Customers Bancorp has a 1-year low of $31.16 and a 1-year high of $68.49. The stock’s 50-day moving average is $51.46 and its 200 day moving average is $49.82. The company has a market cap of $1.43 billion, a P/E ratio of 6.34 and a beta of 1.62. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.93 and a quick ratio of 0.91.

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

Insider Transactions at Customers Bancorp

In other news, CEO Samvir S. Sidhu acquired 2,500 shares of Customers Bancorp stock in a transaction dated Tuesday, August 13th. The stock was purchased at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the purchase, the chief executive officer now directly owns 144,504 shares in the company, valued at approximately $6,579,267.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 6.92% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Louisiana State Employees Retirement System raised its position in Customers Bancorp by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 14,300 shares of the bank’s stock valued at $686,000 after acquiring an additional 300 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Customers Bancorp by 1.7% in the second quarter. SummerHaven Investment Management LLC now owns 20,723 shares of the bank’s stock valued at $994,000 after purchasing an additional 341 shares during the period. Texas Permanent School Fund Corp grew its holdings in Customers Bancorp by 1.4% in the first 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. ProShare Advisors LLC grew its holdings in Customers Bancorp by 7.4% in the first quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock valued at $306,000 after purchasing an additional 398 shares during the period. Finally, Mackenzie Financial Corp grew its holdings in Customers Bancorp by 10.4% in the second quarter. Mackenzie Financial Corp now owns 5,850 shares of the bank’s stock valued at $281,000 after purchasing an additional 549 shares during the period. 89.29% of the stock is currently owned by hedge funds and other 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.