Shares of Customers Bancorp, Inc. (NYSE:CUBI – Get Rating) have been assigned an average recommendation of “Hold” from the nine research firms that are covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $69.57.
A number of equities analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Customers Bancorp from $63.00 to $48.00 in a report on Monday, July 11th. Stephens dropped their target price on 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. B. Riley dropped their target price on Customers Bancorp from $90.00 to $85.00 in a research note on Monday, July 11th. Finally, DA Davidson reiterated a “neutral” rating on shares of Customers Bancorp in a research note on Wednesday, July 27th.
Customers Bancorp Stock Down 4.3 %
Customers Bancorp stock opened at $33.00 on Wednesday. The stock’s 50 day moving average price is $36.39 and its 200 day moving average price is $41.65. The company has a market cap of $1.07 billion, a PE ratio of 3.31 and a beta of 1.61. Customers Bancorp has a 1-year low of $31.35 and a 1-year high of $76.13. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.88 and a quick ratio of 0.88.
Customers Bancorp (NYSE:CUBI – Get Rating) last released its quarterly earnings results on Wednesday, July 27th. The bank reported $1.77 earnings per share for the quarter, missing analysts’ consensus estimates of $1.80 by ($0.03). Customers Bancorp had a return on equity of 29.54% and a net margin of 38.56%. The company had revenue of $177.60 million during the quarter, compared to analyst estimates of $178.09 million. During the same period last year, the firm earned $1.76 earnings per share. On average, sell-side analysts predict that Customers Bancorp will post 7.35 EPS for the current fiscal year.
Institutional Investors Weigh In On Customers Bancorp
Institutional investors have recently added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its position in Customers Bancorp by 2.2% in the 2nd quarter. Exchange Traded Concepts LLC now owns 12,847 shares of the bank’s stock worth $436,000 after purchasing an additional 271 shares during the last quarter. Lazard Asset Management LLC grew its stake in Customers Bancorp by 70.5% during the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank’s stock valued at $44,000 after acquiring an additional 284 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in Customers Bancorp by 7.1% during the first quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank’s stock valued at $228,000 after acquiring an additional 290 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Customers Bancorp by 2.1% during the first quarter. Louisiana State Employees Retirement System now owns 14,700 shares of the bank’s stock valued at $696,000 after acquiring an additional 300 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Customers Bancorp by 3.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 10,783 shares of the bank’s stock valued at $366,000 after acquiring an additional 328 shares in the last quarter. 86.12% of the stock is owned by institutional investors and hedge funds.
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 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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