DA Davidson Forecasts Strong Price Appreciation for Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp (NYSE:CUBI) had its price target lifted by stock analysts at DA Davidson from $68.00 to $71.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. DA Davidson’s target price would suggest a potential upside of 24.58% from the company’s previous close. DA Davidson also issued estimates for Customers Bancorp’s Q1 2025 earnings at $1.36 EPS.

CUBI has been the subject of several other research reports. StockNews.com raised Customers Bancorp from a “sell” rating to a “hold” rating in a report on Sunday, December 1st. Keefe, Bruyette & Woods boosted their price objective on Customers Bancorp from $62.00 to $67.00 and gave the company a “market perform” rating in a research note on Monday. Raymond James decreased their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, October 2nd. Stephens reiterated an “equal weight” rating and issued a $58.00 price target on shares of Customers Bancorp in a research report on Friday, January 24th. Finally, Piper Sandler decreased their price objective on shares of Customers Bancorp from $61.00 to $55.00 and set a “neutral” rating on the stock in a research report on Monday, November 4th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Price Performance

NYSE CUBI opened at $56.99 on Monday. The company has a 50-day moving average price of $51.56 and a 200-day moving average price of $51.03. Customers Bancorp has a 52 week low of $42.31 and a 52 week 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 market capitalization of $1.79 billion, a P/E ratio of 9.25 and a beta of 1.68.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, January 23rd. The bank reported $1.36 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.15. Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. Equities research analysts anticipate that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, CEO Jay S. Sidhu sold 86,578 shares of Customers Bancorp stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $56.54, for a total value of $4,895,120.12. Following the sale, the chief executive officer now owns 1,090,598 shares of the company’s stock, valued at $61,662,410.92. The trade was a 7.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert Neil Mackay sold 4,000 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $53.78, for a total value of $215,120.00. Following the transaction, the director now owns 4,567 shares of the company’s stock, valued at $245,613.26. This represents a 46.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,440 shares of company stock valued at $5,425,815. Corporate insiders own 6.92% of the company’s stock.

Institutional Trading of Customers Bancorp

A number of large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. lifted its position in Customers Bancorp by 88.9% in the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock worth $22,284,000 after buying an additional 225,785 shares during the last quarter. State Street Corp increased its position in Customers Bancorp by 10.5% during the third quarter. State Street Corp now owns 1,781,976 shares of the bank’s stock valued at $82,773,000 after acquiring an additional 169,982 shares during the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Customers Bancorp in the third quarter valued at $3,470,000. Sei Investments Co. lifted its holdings in shares of Customers Bancorp by 53.1% in the 2nd quarter. Sei Investments Co. now owns 132,048 shares of the bank’s stock worth $6,336,000 after acquiring an additional 45,818 shares during the last quarter. Finally, Walleye Capital LLC boosted its stake in shares of Customers Bancorp by 536.3% during the 3rd quarter. Walleye Capital LLC now owns 38,450 shares of the bank’s stock worth $1,786,000 after purchasing an additional 32,407 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.