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. It operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, non-interest-bearing demand accounts, individual retirement accounts, and other deposit accounts, as well as non-retail time deposits. It also provides commercial and industrial lending services; small business administration and paycheck protection program loans; multi-family and commercial real estate loans; commercial loans to mortgage companies; equipment financing services and specialty lending; mortgage warehouse loans; and home equity and residential mortgage and installment loans. In addition, the company offers private banking services; mobile phone banking, internet banking, wire transfers, electronic bill payment, lock box, remote deposit capture, courier, merchant processing, cash vault, controlled disbursements, and positive pay services; and cash management services, such as account reconciliation, collections, and sweep accounts. It operates 12 full-service branches, as well as limited production and administrative offices in Southeastern Pennsylvania, including Bucks, Berks, Chester, Philadelphia, and Delaware Counties; Rye Brook and New York; Hamilton, New Jersey; Boston, Massachusetts; Providence, Rhode Island; Portsmouth, New Hampshire; Manhattan and Melville, New York; Washington D.C.; and Chicago, Illinois. Customers Bancorp, Inc. was founded in 1997 and is headquartered in West Reading, Pennsylvania.
IPO Year:
Exchange: NYSE
Website: customersbank.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 11/4/2024 | $57.00 → $52.00 | Outperform → Mkt Perform | Keefe Bruyette |
| 9/24/2024 | $79.00 → $53.00 | Outperform → Neutral | Wedbush |
| 8/9/2024 | $49.00 | Outperform → Market Perform | Hovde Group |
| 5/2/2024 | $66.00 → $63.00 | Outperform | Hovde Group |
| 12/6/2023 | $62.00 | Buy | B. Riley Securities |
| 9/29/2023 | $60.00 | Strong Buy | Raymond James |
| 10/28/2022 | $42.00 → $44.00 | Neutral → Buy | DA Davidson |
| 9/28/2022 | $45.00 | Outperform | Wedbush |
| 3/29/2022 | $62.50 | Equal-Weight | Stephens |
| 3/29/2022 | $72.00 → $80.00 | Mkt Perform → Outperform | Keefe Bruyette |
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
3 - Customers Bancorp, Inc. (0001488813) (Issuer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CUBIPRE) of $0.65395191 per share. The dividend is payable on December 16, 2024, to shareholders of record on November 30, 2024. The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBIPRF) of $0.63006441 per share. The dividend is payable on December 16, 2024, to shareholders of record on November 30, 2024. Institutional Background Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation's t
Customers Bancorp, Inc. (NYSE:CUBI): Third Quarter 2024 Highlights Q3 2024 net income available to common shareholders was $42.9 million, or $1.31 per diluted share; ROAA was 0.88% and ROCE was 10.44%. Q3 2024 core earnings*1 were $43.8 million, or $1.34 per diluted share; Core ROAA* was 0.89% and Core ROCE* was 10.66%. CET 1 ratio of 12.5%2 at September 30, 2024, compared to 12.8% at June 30, 2024, above the 11.5% target. TCE / TA ratio* of 7.7% at September 30, 2024, compared to 7.7% at June 30, 2024, above the 7.5% target. Total loans and leases held for investment grew by $520.8 million in Q3 2024 from Q2 2024 or 16% annualized. Q3 2024 deposit inflows from commercial custo
Customers Bancorp, Inc. (NYSE:CUBI), the parent company of Customers Bank (collectively, "Customers"), will host a webcast at 9:00 AM EDT on Friday, November 1, 2024, to report its earnings results for the three months ending September 30, 2024. The webcast will be conducted by Customers Bancorp Chair & CEO Jay Sidhu, Customers Bancorp President and Customers Bank President & CEO Sam Sidhu, and Customers Bancorp Chief Financial Officer Philip Watkins. Register online for the webcast. The live audio webcast, presentation slides and earnings press release will be made available at the Customers Bank Investors webpage. The third quarter 2024 earnings press release will be issued after the ma
Customers Bank, the $21 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), is laying the groundwork for continued deposit growth in commercial and specialty banking divisions, enhancing its C-suite to incorporate significant, top-level expertise and capabilities. A new role of Chief Banking Officer will be filled by Lyle Cunningham, a long-standing member of the company who most recently served as Executive Vice President, Chief Lending Officer & Head of Corporate and Specialized Banking. Additionally, the Bank has named Nick Robinson as Chief Risk Officer, who hails from a top 10 bank in the U.S. Robinson will collaborate closely with Joan Cheney, who is transitioning to the Deputy
Customers Bank (NYSE:CUBI), a leading tech-forward bank, will present at the Barclays Global Financial Services Conference on Sept. 11, 2024. Sam Sidhu, president and CEO, is scheduled to present to analysts and investors at 8:15 a.m. EDT. For more information about Customers Bank's participation in the Barclays Global Financial Services Conference, please visit our website or contact our investor relations team at [email protected]. Institutional Background Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation's top-performing banking companies with nearly $21 billion in assets, making it one of the 80 largest bank holding companies in the U.S. Customers Bank's commercial a
On August 8, 2024, the Federal Reserve Bank of Philadelphia disclosed that it had entered into a Written Agreement with Customers Bancorp, Inc. of West Reading PA (NYSE:CUBI)("Customers") and its wholly owned subsidiary, Customers Bank ("the bank"), regarding deficiencies in compliance policies and practices (including Board oversight) connected to its digital asset strategy, including an operating platform to allow for tokenized payments for customers. The weaknesses identified by the Federal Reserve appear widespread and encompass both BSA/AML requirements (Regulation H of the Board of Governors) and regulations issued by the Office of Foreign Assets Control of the U.S. Treasury Departmen
Law Offices of Howard G. Smith continues its investigation of potential claims against the board of directors of Customers Bancorp, Inc. ("Customers Bancorp" or the "Company") (NYSE:CUBI) concerning whether the board of directors breached its fiduciary duties to Customers Bancorp shareholders. On April 12, 2024, Customers Bancorp disclosed that its Executive Vice President and Chief Financial Officer, Carla Leibold, had been terminated "for ‘cause' under her employment agreement for violating Company policy." However, later that month, the Company amended this description to state that her termination "was a separation by mutual agreement" and that Ms. Leibold would be paid $2.5 million i
Financial industry veteran and former IRS Special Agent will strengthen BSA/AML processes, further Bank's commitment to risk management Customers Bank, the $22 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), has appointed Allen Love as Chief Compliance and AML Officer. In this role, Love will be responsible for leading the Bank's enterprise-wide compliance program, ensuring it continues to evolve as regulatory expectations increase. Love will immediately begin work on strengthening Bank Secrecy Act and Anti-Money Laundering (BSA/AML) protocols for the company's digital asset business in support of the Bank's recent agreement with the Federal Reserve Bank of Philadelphia and t
Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CUBIPRE) of $0.67876078 per share. The dividend is payable on September 16, 2024, to shareholders of record on August 31, 2024. The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBIPRF) of $0.65487329 per share. The dividend is payable on September 16, 2024, to shareholders of record on August 31, 2024. Institutional Background Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation's
Customers Bancorp, Inc. (NYSE:CUBI): Second Quarter 2024 Highlights Q2 2024 net income available to common shareholders was $54.3 million, or $1.66 per diluted share; ROAA was 1.11% and ROCE was 13.85%. Q2 2024 core earnings*1 were $48.6 million, or $1.49 per diluted share; Core ROAA* was 1.00% and Core ROCE* was 12.39%. CET 1 ratio of 12.8%2 at June 30, 2024, compared to 12.6% at March 31, 2024, above the approximately 11.5% target. TCE / TA ratio* of 7.7% at June 30, 2024, compared to 7.3% at March 31, 2024, above the approximately 7.5% target. Total loans and leases grew by $375.8 million in Q2 2024 from Q1 2024 or 11% annualized. Q2 2024 net interest margin, tax equi
Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CUBIPRE) of $0.65395191 per share. The dividend is payable on December 16, 2024, to shareholders of record on November 30, 2024. The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBIPRF) of $0.63006441 per share. The dividend is payable on December 16, 2024, to shareholders of record on November 30, 2024. Institutional Background Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation's t
Customers Bancorp, Inc. (NYSE:CUBI): Third Quarter 2024 Highlights Q3 2024 net income available to common shareholders was $42.9 million, or $1.31 per diluted share; ROAA was 0.88% and ROCE was 10.44%. Q3 2024 core earnings*1 were $43.8 million, or $1.34 per diluted share; Core ROAA* was 0.89% and Core ROCE* was 10.66%. CET 1 ratio of 12.5%2 at September 30, 2024, compared to 12.8% at June 30, 2024, above the 11.5% target. TCE / TA ratio* of 7.7% at September 30, 2024, compared to 7.7% at June 30, 2024, above the 7.5% target. Total loans and leases held for investment grew by $520.8 million in Q3 2024 from Q2 2024 or 16% annualized. Q3 2024 deposit inflows from commercial custo
Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CUBIPRE) of $0.67876078 per share. The dividend is payable on September 16, 2024, to shareholders of record on August 31, 2024. The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBIPRF) of $0.65487329 per share. The dividend is payable on September 16, 2024, to shareholders of record on August 31, 2024. Institutional Background Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation's
Customers Bancorp, Inc. (NYSE:CUBI): Second Quarter 2024 Highlights Q2 2024 net income available to common shareholders was $54.3 million, or $1.66 per diluted share; ROAA was 1.11% and ROCE was 13.85%. Q2 2024 core earnings*1 were $48.6 million, or $1.49 per diluted share; Core ROAA* was 1.00% and Core ROCE* was 12.39%. CET 1 ratio of 12.8%2 at June 30, 2024, compared to 12.6% at March 31, 2024, above the approximately 11.5% target. TCE / TA ratio* of 7.7% at June 30, 2024, compared to 7.3% at March 31, 2024, above the approximately 7.5% target. Total loans and leases grew by $375.8 million in Q2 2024 from Q1 2024 or 11% annualized. Q2 2024 net interest margin, tax equi
Customers Bancorp, Inc. (NYSE:CUBI) announced a corrected dividend amount on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CUBIPRE) and Series F (NYSE:CUBIPRF), previously announced on April 29, 2024. As corrected, the cash dividend on its Series E (NYSE:CUBIPRE) will be $0.700488 per share, payable on June 17, 2024, to shareholders of record on May 31, 2024, and the cash dividend on its Series F (NYSE:CUBIPRF) will be $0.675813 per share, payable on June 17, 2024, to shareholders of record on May 31, 2024. Institutional Background Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation's top-performing banking companies with nearly $22 billion in
Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CUBIPRE) of $0.685584 per share. The dividend is payable on June 17, 2024, to shareholders of record on May 31, 2024. The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBIPRF) of $0.661434 per share. The dividend is payable on June 17, 2024, to shareholders of record on May 31, 2024. Institutional Background Customers Bancorp, Inc. (NYSE:CUBI) is one of the nation's top-performing bankin
Customers Bancorp, Inc. (NYSE:CUBI): First Quarter 2024 Highlights Q1 2024 net income available to common shareholders was $45.9 million, or $1.40 per diluted share; ROAA was 0.94% and ROCE was 12.08%. Q1 2024 core earnings* were $46.5 million, or $1.42 per diluted share; Core ROAA* was 0.95% and Core ROCE* was 12.24%. Q1 2024 adjusted core earnings* excluding certain one-time items were $55.1 million, or $1.68 per diluted share; Adjusted Core ROAA* excluding certain one-time items was 1.11% and Adjusted Core ROCE* excluding certain one-time items was 14.50%. CET 1 ratio of 12.5%1 at March 31, 2024, compared to 12.2% at December 31, 2023, above the approximately 11.5% target.
Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CUBIPRE) of $0.68163044 per share. The dividend is payable on March 15, 2024, to shareholders of record on February 29, 2024. The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBIPRF) of $0.65774294 per share. The dividend is payable on March 15, 2024, to shareholders of record on February 29, 2024. The company is reminding shareholders that, in accordance with Federal Reserve Board rule
Customers Bancorp, Inc. (NYSE:CUBI): Fourth Quarter 2023 Highlights Q4 2023 net income available to common shareholders was $58.2 million, or $1.79 per diluted share; ROAA was 1.16% and ROCE was 15.93%. Q4 2023 core earnings* were $61.6 million, or $1.90 per diluted share; Core ROAA* was 1.22% and Core ROCE* was 16.87%. CET 1 capital ratio of 12.2%1 at December 31, 2023, compared to 11.3% at September 30, 2023, surpassing 11.0% - 11.5% target. TCE / TA ratio* of 7.0% at December 31, 2023, compared to 6.5% at September 30, 2023, achieving stated target. Q4 2023 net interest margin, tax equivalent ("NIM") was 3.31%, compared to Q3 2023 NIM of 3.70%. Q3 2023 NIM included the b
Customers Bancorp, Inc. (NYSE:CUBI) announced that the Board of Directors has declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series E (NYSE:CUBIPRE) of $0.68319767 per share. The dividend is payable on December 15, 2023, to shareholders of record on November 30, 2023. The Board of Directors has also declared a quarterly cash dividend on its Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series F (NYSE:CUBIPRF) of $0.65931017 per share. The dividend is payable on December 15, 2023, to shareholders of record on November 30, 2023. The company is reminding shareholders that, in accordance with Federal Reserve Boar
Financial industry veteran and former IRS Special Agent will strengthen BSA/AML processes, further Bank's commitment to risk management Customers Bank, the $22 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), has appointed Allen Love as Chief Compliance and AML Officer. In this role, Love will be responsible for leading the Bank's enterprise-wide compliance program, ensuring it continues to evolve as regulatory expectations increase. Love will immediately begin work on strengthening Bank Secrecy Act and Anti-Money Laundering (BSA/AML) protocols for the company's digital asset business in support of the Bank's recent agreement with the Federal Reserve Bank of Philadelphia and t
Shareholders reelect three directors, support executive "Say on Pay" proposal, ratify appointment of accounting firm, approve amendment to stock incentive plan Customers Bancorp (NYSE:CUBI) (the "Company"), parent company of Customers Bank (the "Bank"), held its annual shareholder meeting today and shareholders approved all proposals put to a vote. Robert J. Buford, Rajeev V. Date and Jay S. Sidhu were reelected as directors. Buford will continue to serve as member of the Board's Audit and Risk Committees; Date will continue as chair of the Board's Regulatory Affairs Committee and member of its Risk Committee and the Bank's Compliance Committee; Sidhu will continue as Chairman and membe
Shareholders of Customers Bancorp, Inc. (NYSE:CUBI) – parent of Customers Bank, a digital-forward super-community bank and one of the 100 largest banks in the U.S., met in a virtual annual meeting on Tuesday, May 30, electing three directors, ratifying the appointment of Deloitte & Touche LLP as the company's independent registered public accounting firm, supporting a non-binding "say on pay" proposal to approve the compensation of top executives, and amending the company's stock incentive plan. "Over the years, we have built Customers Bancorp, Inc. into a high performing, forward-thinking bank with strong risk management," commented Chair & CEO Jay Sidhu. Three Directors comprising the
Saidin brings over three decades of technology operations experience to Tassat Tassat Group Inc., the leading provider of real-time digital payments solutions for commercial banks and their corporate clients, today announced the appointment of Zain Saidin as Chief Operating Officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230214005566/en/Zain Saidin, Chief Operating Officer at Tassat Group, Inc. (Photo: Business Wire) Saidin is a technology operations veteran, bringing over 30 years of technology integration, and strategic business development to Tassat. Prior to joining Tassat, Saidin served as the Chief Engineer and an
Shareholders of Customers Bancorp, Inc. (NYSE:CUBI) – parent of Customers Bank, a digital-forward super-community bank with a growing number of operations across the nation, met in a virtual annual meeting Tuesday, May 31 electing three directors, ratifying the appointment of Deloitte & Touche LLP as the Bank's independent registered public accounting firm, supporting a non-binding "say on pay" proposal to approve the compensation of top executives, and amending the company's stock Incentive plan. "At Customers Bank, we believe that three strengths make us unique: our commitment to human connections, our dedication to innovation and the latest technology, and our responsibility to always g
Shareholders of Customers Bancorp, Inc. (NYSE:CUBI) – parent of Customers Bank, a leading super-community bank with a growing number of operations across the nation, met in a virtual annual meeting Wednesday, May 26 electing two directors, ratifying the appointment of Deloitte & Touche LLP as the Bank's independent registered public accounting firm, and supporting a non-binding "say on pay" proposal to approve the compensation of top executives. Bank leaders, directors and shareholders took a moment of silence to remember all who were lost in the past year's global pandemic and to give thanks for the millions of frontline workers who courageously carried on to give care, deliver food and c
10-Q - Customers Bancorp, Inc. (0001488813) (Filer)
144 - Customers Bancorp, Inc. (0001488813) (Subject)
8-K - Customers Bancorp, Inc. (0001488813) (Filer)
8-K - Customers Bancorp, Inc. (0001488813) (Filer)
S-8 - Customers Bancorp, Inc. (0001488813) (Filer)
10-Q - Customers Bancorp, Inc. (0001488813) (Filer)
8-K - Customers Bancorp, Inc. (0001488813) (Filer)
8-K - Customers Bancorp, Inc. (0001488813) (Filer)
8-K - Customers Bancorp, Inc. (0001488813) (Filer)
10-Q - Customers Bancorp, Inc. (0001488813) (Filer)
4 - Customers Bancorp, Inc. (0001488813) (Issuer)
SC 13G/A - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G/A - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G/A - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G/A - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G/A - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G/A - Customers Bancorp, Inc. (0001488813) (Subject)
SC 13G - Customers Bancorp, Inc. (0001488813) (Subject)
Keefe Bruyette downgraded Customers Bancorp from Outperform to Mkt Perform and set a new price target of $52.00 from $57.00 previously
Wedbush downgraded Customers Bancorp from Outperform to Neutral and set a new price target of $53.00 from $79.00 previously
Hovde Group downgraded Customers Bancorp from Outperform to Market Perform and set a new price target of $49.00
Hovde Group reiterated coverage of Customers Bancorp with a rating of Outperform and set a new price target of $63.00 from $66.00 previously
B. Riley Securities resumed coverage of Customers Bancorp with a rating of Buy and set a new price target of $62.00
Raymond James initiated coverage of Customers Bancorp with a rating of Strong Buy and set a new price target of $60.00
DA Davidson upgraded Customers Bancorp from Neutral to Buy and set a new price target of $44.00 from $42.00 previously
Wedbush resumed coverage of Customers Bancorp with a rating of Outperform and set a new price target of $45.00
Stephens initiated coverage of Customers Bancorp with a rating of Equal-Weight and set a new price target of $62.50
Keefe Bruyette upgraded Customers Bancorp from Mkt Perform to Outperform and set a new price target of $80.00 from $72.00 previously
This whale alert can help traders discover the next big trading opportunities. Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner. Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. Below are some instances of options activity happening in the Financials sector: Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume TFC CALL TRADE BULLISH 08/16/24 $45.00 $636.3K 895 10.1K UPST CALL TRADE BULLISH 12/20
Jefferies analyst Casey Haire maintains Customers Bancorp (NYSE:CUBI) with a Buy and lowers the price target from $59 to $57.
On June 26, 2024, the Board of Directors of Customers Bancorp, Inc. (NYSE:CUBI), the holding company for Customers Bank, authorized a new common stock repurchase plan, providing the company the option to purchase up to 497,509 shares of its outstanding common stock over a one-year period.The company's previous common stock repurchase plan, authorized on August 25, 2021, subsequently expired on September 27, 2023. At expiration, the previously authorized plan had 497,509 shares that had not been repurchased.
Customers Bank, known for its crypto-friendly services, has ceased providing banking services to certain hedge-fund clients. What Happened: While the bank revealed halting services, the extent of the off-boarding remains unclear. CoinDesk reported on Friday, citing three people familiar with the matter, that "a load of funds” were affected. The move targeted inactive accounts rather than a broad industry-wide action and several funds are now seeking new banking providers. The West Reading, Pennsylvania-based company, owned by Customers Bancorp (NYSE:CUBI), offers a real-time blockchain-based payments platform, Customer Bank Instant Token (CBIT), facilitating 24/7 U.S. dollar payments f
https://www.coindesk.com/business/2024/06/07/customers-bank-said-to-debank-some-digital-asset-hedge-funds/?utm_term=organic&utm_content=editorial&utm_medium=social&utm_source=twitter&utm_campaign=coindesk_main
Furthers Commitment to Venture Banking and Early-Stage CompaniesCustomers Bank, the $22 billion asset subsidiary of Customers Bancorp (NYSE:CUBI), is furthering its commitment as a leading partner to the venture banking and startup communities through its sixth overall venture fund investment.After submitting a winning bid to the Federal Deposit Insurance Corporation, Customers Bank purchased a minority limited partnership interest for $5 million in the fund at an approximate 70% discount to the original cost of investment.
Throughout the last three months, 4 analysts have evaluated Customers Bancorp (NYSE:CUBI), offering a diverse set of opinions from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 3 1 0 0 0 Last 30D 0 1 0 0 0 1M Ago 1 0 0 0 0 2M Ago 0 0 0 0 0 3M Ago 2 0 0 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $68.5, a high estimate of $77.00, and a low estimate of $61.00. This upward trend is apparent, with the
Wedbush analyst David Chiaverini maintains Customers Bancorp (NYSE:CUBI) with a Outperform and lowers the price target from $63 to $61.
Customers Bancorp (NYSE:CUBI) reported quarterly earnings of $1.42 per share which missed the analyst consensus estimate of $1.63 by 12.88 percent. This is a 10.13 percent decrease over earnings of $1.58 per share from the same period last year. The company reported quarterly sales of $160.385 million which missed the analyst consensus estimate of $167.861 million by 4.45 percent. This is a 7.00 percent increase over sales of $149.899 million the same period last year.