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

Shares of Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) have received an average recommendation of “Hold” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $64.57.

A number of analysts recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $45.00 price target on shares of Customers Bancorp in a research note on Wednesday, September 28th. B. Riley lowered their target price on shares of Customers Bancorp from $90.00 to $85.00 in a research note on Monday, July 11th. Stephens lowered their target price on shares of Customers Bancorp from $54.00 to $52.00 and set an “equal weight” rating for the company in a research note on Tuesday, August 2nd. DA Davidson reiterated a “neutral” rating on shares of Customers Bancorp in a research note on Wednesday, July 27th. Finally, Jefferies Financial Group lowered their target price on shares of Customers Bancorp from $63.00 to $48.00 in a research note on Monday, July 11th.

Customers Bancorp Trading Down 2.9 %

CUBI opened at $31.08 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average is $34.57 and its 200-day moving average is $38.50. The firm has a market capitalization of $1.01 billion, a P/E ratio of 3.11 and a beta of 1.60. Customers Bancorp has a 52-week low of $29.21 and a 52-week high of $76.13.

Customers Bancorp (NYSE:CUBI – Get Rating) last issued its quarterly earnings results on Wednesday, July 27th. The bank reported $1.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.03). The company had revenue of $177.60 million during the quarter, compared to the consensus estimate of $178.09 million. Customers Bancorp had a return on equity of 29.54% and a net margin of 38.56%. During the same quarter last year, the firm posted $1.76 EPS. Analysts expect that Customers Bancorp will post 7.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of Customers Bancorp by 51.8% during the third quarter. Exchange Traded Concepts LLC now owns 19,503 shares of the bank’s stock valued at $575,000 after acquiring an additional 6,656 shares during the period. Federated Hermes Inc. boosted its holdings in shares of Customers Bancorp by 30.4% during the second quarter. Federated Hermes Inc. now owns 474,364 shares of the bank’s stock valued at $16,081,000 after acquiring an additional 110,625 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in shares of Customers Bancorp during the second quarter valued at $2,627,000. Legal & General Group Plc boosted its holdings in shares of Customers Bancorp by 0.7% during the second quarter. Legal & General Group Plc now owns 73,595 shares of the bank’s stock valued at $2,495,000 after acquiring an additional 486 shares during the period. Finally, RMB Capital Management LLC acquired a new position in shares of Customers Bancorp during the second quarter valued at $1,695,000. Institutional investors and hedge funds own 86.12% of the company’s stock.

About Customers Bancorp

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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 offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

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Analyst Recommendations for Customers Bancorp (NYSE:CUBI)

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