Customers Bancorp (NYSE:CUBI) Research Coverage Started at TD Cowen

TD Cowen assumed coverage on shares of Customers Bancorp (NYSE:CUBI) in a report issued on Thursday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $89.00 price objective on the bank’s stock.

A number of other research analysts also recently issued reports on the company. DA Davidson boosted their price target on Customers Bancorp from $69.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 28th. Stephens boosted their price objective on Customers Bancorp from $55.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 29th. Wall Street Zen raised Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. B. Riley upped their price target on Customers Bancorp from $85.00 to $86.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods upped their price target on Customers Bancorp from $71.00 to $76.00 and gave the company a “market perform” rating in a research note on Friday, September 5th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.11.

Customers Bancorp Stock Performance

CUBI opened at $67.45 on Thursday. Customers Bancorp has a 52-week low of $40.75 and a 52-week high of $72.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The company has a market cap of $2.13 billion, a P/E ratio of 16.70 and a beta of 1.62. The firm’s 50-day moving average price is $66.41 and its 200-day moving average price is $57.36.

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

Institutional Trading of Customers Bancorp

Several hedge funds have recently modified their holdings of CUBI. Two Sigma Advisers LP lifted its holdings in shares of Customers Bancorp by 51.7% in the 4th quarter. Two Sigma Advisers LP now owns 13,200 shares of the bank’s stock valued at $643,000 after buying an additional 4,500 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Customers Bancorp by 29.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 75,798 shares of the bank’s stock worth $3,690,000 after purchasing an additional 17,182 shares during the last quarter. GAMMA Investing LLC raised its holdings in Customers Bancorp by 6,283.2% during the first quarter. GAMMA Investing LLC now owns 94,727 shares of the bank’s stock worth $4,755,000 after purchasing an additional 93,243 shares during the last quarter. SG Americas Securities LLC raised its holdings in Customers Bancorp by 1,866.5% during the first quarter. SG Americas Securities LLC now owns 109,713 shares of the bank’s stock worth $5,508,000 after purchasing an additional 104,134 shares during the last quarter. Finally, Hennessy Advisors Inc. raised its holdings in Customers Bancorp by 37.0% during the first quarter. Hennessy Advisors Inc. now owns 37,000 shares of the bank’s stock worth $1,857,000 after purchasing an additional 10,000 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

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.