Customers Bancorp (NYSE:CUBI) Coverage Initiated by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of Customers Bancorp (NYSE:CUBI) in a research report sent to investors on Friday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $90.00 price target on the bank’s stock.

Other analysts have also recently issued research reports about the company. B. Riley Financial reaffirmed a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. Wall Street Zen cut Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Sunday, January 25th. DA Davidson lifted their target price on Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Maxim Group set a $100.00 target price on Customers Bancorp in a research report on Monday, January 26th. Finally, Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.18.

Customers Bancorp Stock Performance

Customers Bancorp stock traded down $0.96 during mid-day trading on Friday, reaching $67.45. 555,238 shares of the company traded hands, compared to its average volume of 427,673. The firm’s fifty day moving average is $74.78 and its two-hundred day moving average is $70.58. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 10.88 and a beta of 1.66. Customers Bancorp has a fifty-two week low of $40.75 and a fifty-two week high of $82.56. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 EPS for the quarter, topping the consensus estimate of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The business had revenue of $236.90 million during the quarter, compared to the consensus estimate of $200.38 million. During the same period in the previous year, the firm posted $1.36 earnings per share. On average, equities research analysts expect that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp announced that its board has approved a stock buyback plan on Wednesday, February 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to buy up to 4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Arax Advisory Partners grew its position in shares of Customers Bancorp by 218.9% during the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after acquiring an additional 243 shares during the period. Caitong International Asset Management Co. Ltd acquired a new stake in Customers Bancorp in the third quarter valued at approximately $29,000. Jones Financial Companies Lllp acquired a new stake in Customers Bancorp in the first quarter valued at approximately $37,000. Transamerica Financial Advisors LLC increased its position in shares of Customers Bancorp by 216.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after buying an additional 404 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock worth $44,000 after buying an additional 260 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.