Brokerages Set Customers Bancorp, Inc. (NYSE:CUBI) Price Target at $63.80

Customers Bancorp, Inc. (NYSE:CUBI) has been given a consensus recommendation of “Moderate Buy” by the ten brokerages that are presently covering the company, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $64.00.

A number of equities research analysts have recently commented on the company. Stephens reiterated an “equal weight” rating and set a $58.00 price objective on shares of Customers Bancorp in a research report on Friday, January 24th. DA Davidson increased their price objective on Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a research report on Monday, January 27th. Keefe, Bruyette & Woods cut their price objective on Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating for the company in a research report on Monday, April 28th. B. Riley increased their price objective on Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, May 16th. Finally, Maxim Group increased their price objective on Customers Bancorp from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Monday, January 27th.

Customers Bancorp Stock Down 0.5%

Shares of Customers Bancorp stock opened at $53.70 on Friday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1.70 billion, a P/E ratio of 10.57 and a beta of 1.51. Customers Bancorp has a fifty-two week low of $40.75 and a fifty-two week high of $68.49. The business has a 50-day moving average price of $49.36 and a 200 day moving average price of $51.56.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. The company had revenue of $194.28 million during the quarter, compared to the consensus estimate of $165.24 million. During the same period in the previous year, the firm posted $1.68 earnings per share. On average, sell-side analysts forecast that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC lifted its holdings in shares of Customers Bancorp by 46.9% in the third quarter. Barclays PLC now owns 89,879 shares of the bank’s stock valued at $4,175,000 after purchasing an additional 28,683 shares in the last quarter. Franklin Resources Inc. raised its stake in Customers Bancorp by 3.4% in the third quarter. Franklin Resources Inc. now owns 62,515 shares of the bank’s stock valued at $3,011,000 after buying an additional 2,060 shares during the period. Hennessy Advisors Inc. bought a new stake in Customers Bancorp in the fourth quarter valued at approximately $1,314,000. SG Americas Securities LLC raised its stake in Customers Bancorp by 6.3% in the fourth quarter. SG Americas Securities LLC now owns 5,579 shares of the bank’s stock valued at $272,000 after buying an additional 333 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Customers Bancorp by 5.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 21,085 shares of the bank’s stock worth $1,026,000 after purchasing an additional 1,108 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

About Customers Bancorp

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.