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

Customers Bancorp, Inc. (NYSE:CUBI) has been assigned an average rating of “Buy” from the eight analysts that are currently 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 given a strong buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $61.50.

CUBI has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price target on shares of Customers Bancorp from $61.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Wedbush reduced their target price on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Finally, Hovde Group decreased their target price on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, May 2nd.

Institutional Trading of Customers Bancorp

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in shares of Customers Bancorp during the fourth quarter worth $78,000. Federated Hermes Inc. increased its holdings in shares of Customers Bancorp by 29,550.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock worth $123,000 after acquiring an additional 3,546 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Customers Bancorp in the 4th quarter worth about $209,000. Coldstream Capital Management Inc. acquired a new stake in shares of Customers Bancorp in the 4th quarter worth about $218,000. Finally, Cookson Peirce & Co. Inc. acquired a new stake in shares of Customers Bancorp in the 4th quarter worth about $234,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Price Performance

CUBI opened at $46.73 on Tuesday. The stock has a market capitalization of $1.47 billion, a PE ratio of 6.53 and a beta of 1.63. 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 has a 1 year low of $27.41 and a 1 year high of $60.09. The company’s 50 day simple moving average is $46.42 and its 200 day simple moving average is $50.58.

Customers Bancorp (NYSE:CUBI) last announced its quarterly 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. The firm had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $183.48 million. Customers Bancorp had a net margin of 16.88% and a return on equity of 18.17%. Customers Bancorp’s revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.58 earnings per share. As a group, sell-side analysts expect that Customers Bancorp will post 6.38 EPS for the current 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.