Customers Bancorp (NYSE:CUBI) Given New $75.00 Price Target at Hovde Group

Customers Bancorp (NYSE:CUBI) had its price target increased by Hovde Group from $70.00 to $75.00 in a research note released on Thursday, MarketBeat reports. The brokerage currently has a market perform rating on the bank’s stock.

Other analysts have also recently issued reports about the company. B. Riley reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday. DA Davidson increased their target price on Customers Bancorp from $77.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday. Cowen reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday. Wall Street Zen raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, July 18th. Finally, National Bankshares set a $89.00 price target on shares of Customers Bancorp in a research note on Wednesday, September 24th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp currently has an average rating of “Moderate Buy” and a consensus target price of $79.78.

Customers Bancorp Stock Performance

Shares of CUBI stock opened at $67.09 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. The stock has a market cap of $2.12 billion, a PE ratio of 13.61 and a beta of 1.55. The stock has a 50-day moving average of $67.06 and a 200-day moving average of $60.16. Customers Bancorp has a one year low of $40.75 and a one year high of $72.51.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. Customers Bancorp had a return on equity of 13.24% and a net margin of 12.43%.The business had revenue of $206.82 million during the quarter. As a group, sell-side analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Institutional Investors Weigh In On Customers Bancorp

Several large investors have recently made changes to their positions in CUBI. Jones Financial Companies Lllp acquired a new stake in shares of Customers Bancorp in the 1st quarter valued at approximately $37,000. Farther Finance Advisors LLC lifted its holdings in Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after purchasing an additional 260 shares during the last quarter. CX Institutional acquired a new stake in Customers Bancorp during the 3rd quarter valued at $67,000. GAMMA Investing LLC lifted its holdings in Customers Bancorp by 27.2% during 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 last quarter. Finally, Osaic Holdings Inc. lifted its holdings in Customers Bancorp by 24.8% during the 2nd quarter. Osaic Holdings Inc. now owns 2,121 shares of the bank’s stock valued at $124,000 after purchasing an additional 421 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.