Customers Bancorp (NYSE:CUBI) Hits New 52-Week High – Time to Buy?

Customers Bancorp, Inc (NYSE:CUBI) hit a new 52-week high on Tuesday . The company traded as high as $72.18 and last traded at $70.37, with a volume of 424535 shares changing hands. The stock had previously closed at $71.17.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. DA Davidson upped their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 28th. Wall Street Zen raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Friday, July 18th. Stephens lifted their target price on Customers Bancorp from $55.00 to $62.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. B. Riley lifted their target price on Customers Bancorp from $82.00 to $85.00 and gave the stock a “buy” rating in a report on Monday, July 28th. Finally, Keefe, Bruyette & Woods lifted their target price on Customers Bancorp from $70.00 to $71.00 and gave the stock a “market perform” rating in a report on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.25.

Customers Bancorp Trading Down 1.0%

The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. The firm has a market cap of $2.24 billion, a PE ratio of 17.57 and a beta of 1.62. The company’s 50-day moving average is $64.33 and its 200 day moving average is $55.38.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.30. The company had revenue of $206.31 million for the quarter, compared to the consensus estimate of $170.81 million. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.The firm’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 EPS. As a group, sell-side analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Hedge Funds Weigh In On Customers Bancorp

Large investors have recently made changes to their positions in the business. Jones Financial Companies Lllp acquired a new position in shares of Customers Bancorp in the 1st quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Customers Bancorp in the 4th quarter valued at about $46,000. GAMMA Investing LLC increased its holdings 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 valued at $95,000 after purchasing an additional 403 shares during the period. Hsbc Holdings PLC acquired a new position in shares of Customers Bancorp in the 4th quarter valued at about $202,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Customers Bancorp in the 4th quarter valued at about $205,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.