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

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been assigned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $64.00.

Several research firms have weighed in on CUBI. DA Davidson upped their target price on Customers Bancorp from $68.00 to $71.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. B. Riley upped their price objective on Customers Bancorp from $81.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Maxim Group boosted their target price on Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Monday, January 27th. Stephens reissued an “equal weight” rating and issued a $58.00 target price on shares of Customers Bancorp in a report on Friday, January 24th. Finally, Wall Street Zen lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its stake in shares of Customers Bancorp by 34.3% during the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank’s stock valued at $177,349,000 after acquiring an additional 902,406 shares during the last quarter. Nuveen LLC acquired a new stake in Customers Bancorp in the first quarter valued at $26,652,000. Hood River Capital Management LLC raised its position in Customers Bancorp by 40.1% during the 4th quarter. Hood River Capital Management LLC now owns 1,470,951 shares of the bank’s stock worth $71,606,000 after purchasing an additional 421,335 shares during the last quarter. Heartland Advisors Inc. acquired a new position in Customers Bancorp during the 4th quarter worth about $7,672,000. Finally, Millennium Management LLC lifted its holdings in Customers Bancorp by 71.4% during the 1st quarter. Millennium Management LLC now owns 274,730 shares of the bank’s stock worth $13,791,000 after buying an additional 114,430 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Stock Down 0.3%

Shares of NYSE CUBI opened at $51.17 on Friday. Customers Bancorp has a 52 week low of $40.75 and a 52 week high of $68.49. The stock’s fifty day moving average is $49.37 and its 200 day moving average is $51.60. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The stock has a market capitalization of $1.62 billion, a P/E ratio of 10.07 and a beta of 1.51.

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

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 provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.