Customers Bancorp (NYSE:CUBI) Downgraded by Wedbush

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

Customers Bancorp Stock Up 1.8 %

Shares of CUBI opened at $44.78 on Tuesday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 6.25 and a beta of 1.62. Customers Bancorp has a 52 week low of $31.16 and a 52 week high of $68.49. The stock’s 50-day moving average price is $51.79 and its 200-day moving average price is $49.88. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.75.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. The business had revenue of $198.69 million for the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.65 EPS. On average, sell-side analysts predict that Customers Bancorp will post 6.34 EPS for the current 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 acquired at an average cost of $45.53 per share, for a total transaction of $113,825.00. Following the completion of the transaction, the chief executive officer now directly owns 144,504 shares of the company’s stock, valued at $6,579,267.12. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.92% of the stock is currently owned by corporate insiders.

Institutional Trading of Customers Bancorp

Several large investors have recently bought and sold shares of CUBI. Ridgewood Investments LLC acquired a new position in shares of Customers Bancorp during the 2nd quarter worth approximately $48,000. Innealta Capital LLC purchased a new position in Customers Bancorp during the second quarter worth approximately $74,000. Ashton Thomas Private Wealth LLC acquired a new position in Customers Bancorp during the second quarter worth $151,000. Aigen Investment Management LP purchased a new stake in Customers Bancorp in the 4th quarter valued at $209,000. Finally, Capstone Investment Advisors LLC acquired a new stake in shares of Customers Bancorp in the 1st quarter worth $220,000. 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.