Customers Bancorp, Inc. (NYSE:CUBI) Given Average Rating of “Buy” by Analysts

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given an average recommendation of “Buy” by the eight analysts that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $60.63.

A number of brokerages recently commented on CUBI. Hovde Group lowered their price objective on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Jefferies Financial Group lowered their price objective on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Wedbush reduced their target price on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a report on Friday, April 26th.

Institutional Trading of Customers Bancorp

Institutional investors have recently modified their holdings of the stock. Cornercap Investment Counsel Inc. acquired a new stake in Customers Bancorp in the fourth quarter valued at about $1,254,000. Access Investment Management LLC acquired a new stake in Customers Bancorp in the fourth quarter valued at about $16,194,000. Assenagon Asset Management S.A. boosted its stake in Customers Bancorp by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock valued at $10,554,000 after buying an additional 91,311 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in Customers Bancorp in the first quarter valued at about $4,266,000. Finally, SG Americas Securities LLC boosted its stake in Customers Bancorp by 208.5% in the first quarter. SG Americas Securities LLC now owns 21,632 shares of the bank’s stock valued at $1,148,000 after buying an additional 14,621 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Down 2.3 %

Shares of NYSE CUBI opened at $61.22 on Friday. The stock has a market cap of $1.93 billion, a PE ratio of 8.55 and a beta of 1.65. The business has a fifty day moving average of $49.00 and a two-hundred day moving average of $50.48. Customers Bancorp has a 52-week low of $31.16 and a 52-week high of $64.98. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.91 and a current ratio of 0.93.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Friday, April 26th. The bank reported $1.68 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The company had revenue of $181.62 million during the quarter, compared to analyst estimates of $183.48 million. During the same period last year, the company posted $1.58 earnings per share. The firm’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, equities research analysts expect that Customers Bancorp will post 6.41 earnings per share for the current fiscal year.

Customers Bancorp Company Profile

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.