Customers Bancorp starts voting stock offering

Customers Bancorp starts voting stock offering

Customers Bancorp (CUBI) has initiated voting on a planned $150 million share sale, as per a prospectus filed with the U.S. Securities and Exchange Commission (SEC). The stock, which closed up 1.2% at $72.43 on Wednesday, has seen a significant drop in extended trading, falling by 5.6% to $68.40 [1].

The proposed share sale is expected to generate proceeds that will be used for general purposes, including debt repayment, stock repurchase, and redeeming preferred stock. Morgan Stanley, Keefe, Bruyette & Woods, and Raymond James have been appointed as joint book-running managers for the offering [1].

As of the last close, CUBI stock was up 48.8% year-to-date (YTD). The stock has received mixed ratings from brokerages, with four out of seven rating it as a "buy" or higher, and three rating it as "hold." The median price target (PT) for the stock is $78 [1].

Customers Bancorp had 31.6 million outstanding shares as of June 30, according to its prospectus [1]. The company's plans for the share sale have sparked interest among investors, with the stock's performance and future prospects under scrutiny.

Reference List:
[1] https://www.tradingview.com/news/reuters.com,2025:newsml_L6N3UQ0Z4:0-customers-bancorp-falls-on-planned-150-million-share-sale/