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

by · The Markets Daily

Customers Bancorp, Inc. (NYSE:CUBI – Get Free Report) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $61.50.

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

Check Out Our Latest Research Report on CUBI

Hedge Funds Weigh In On Customers Bancorp

Large investors have recently modified their holdings of the company. GAMMA Investing LLC purchased a new stake in Customers Bancorp in the fourth quarter worth approximately $78,000. Federated Hermes Inc. boosted its stake 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 valued at $123,000 after purchasing an additional 3,546 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Customers Bancorp during the 4th quarter valued at $209,000. Coldstream Capital Management Inc. purchased a new position in Customers Bancorp in the 4th quarter worth $218,000. Finally, Capstone Investment Advisors LLC bought a new stake in Customers Bancorp in the first quarter worth $220,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Price Performance

Shares of NYSE CUBI opened at $47.98 on Tuesday. The stock has a fifty day moving average of $46.43 and a 200-day moving average of $50.50. The stock has a market cap of $1.51 billion, a PE ratio of 6.70 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 fifty-two week low of $29.99 and a fifty-two week high of $60.09.

Customers Bancorp (NYSE:CUBI – Get Free Report) last posted 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 business had revenue of $181.62 million during the quarter, compared to analyst estimates of $183.48 million. During the same quarter in the previous year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. Equities research analysts anticipate that Customers Bancorp will post 6.35 earnings per share for the current year.

Customers Bancorp Company Profile

(Get Free Report

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.

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