Customers Bancorp, Inc (NYSE:CUBI) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Customers Bancorp, Inc (NYSE:CUBI) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $64.78.

Several brokerages have recently issued reports on CUBI. B. Riley increased their target price on Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Keefe, Bruyette & Woods reduced their price target on shares of 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. Finally, Wall Street Zen downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, June 21st.

Hedge Funds Weigh In On Customers Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Picton Mahoney Asset Management boosted its stake in Customers Bancorp by 47.7% in the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock worth $28,000 after purchasing an additional 189 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in Customers Bancorp in the 1st quarter valued at $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Customers Bancorp in the 4th quarter valued at $46,000. Smartleaf Asset Management LLC boosted its stake in Customers Bancorp by 323.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock worth $80,000 after purchasing an additional 1,255 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank’s stock worth $95,000 after acquiring an additional 403 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Customers Bancorp Stock Performance

Customers Bancorp stock opened at $63.95 on Friday. The firm’s 50 day simple moving average is $54.28 and its 200 day simple moving average is $51.87. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $2.02 billion, a PE ratio of 16.11 and a beta of 1.55. Customers Bancorp has a 1-year low of $40.75 and a 1-year high of $68.49.

Customers Bancorp (NYSE:CUBI) last issued its quarterly 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 net margin of 10.51% and a return on equity of 11.64%. The business had revenue of $194.28 million for the quarter, compared to analysts’ expectations of $165.24 million. During the same period last year, the business earned $1.68 earnings per share. As a group, analysts expect that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

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.