Customers Bancorp Inc. (CUBI) Price Target Lowered to $29.00 at Keefe, Bruyette & Woods
Customers Bancorp Inc. (NYSE:CUBI) had its target price decreased by investment analysts at Keefe, Bruyette & Woods from $31.00 to $29.00 in a research note issued to investors on Tuesday. The brokerage presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 14.90% from the stock’s previous close.
Other equities research analysts have also issued research reports about the company. FBR & Co set a $32.00 price target on Customers Bancorp and gave the stock a “buy” rating in a research note on Thursday, July 21st. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, June 15th. Finally, TheStreet lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 25th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Customers Bancorp presently has a consensus rating of “Hold” and a consensus price target of $31.10.
Customers Bancorp (NYSE:CUBI) traded up 0.04% during midday trading on Tuesday, hitting $25.24. The stock had a trading volume of 128,776 shares. The stock’s 50-day moving average is $26.09 and its 200-day moving average is $25.47. The company has a market capitalization of $688.85 million, a PE ratio of 11.22 and a beta of 0.60. Customers Bancorp has a 1-year low of $21.66 and a 1-year high of $31.63.
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Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 20th. The company reported $0.60 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.60. Customers Bancorp had a return on equity of 13.73% and a net margin of 22.25%. During the same period in the previous year, the company posted $0.52 EPS. Equities research analysts forecast that Customers Bancorp will post $2.40 EPS for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Mason Street Advisors LLC purchased a new position in shares of Customers Bancorp during the second quarter worth $124,000. Aristotle Capital Boston LLC raised its position in shares of Customers Bancorp by 3.2% in the second quarter. Aristotle Capital Boston LLC now owns 354,173 shares of the company’s stock worth $8,900,000 after buying an additional 10,916 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Customers Bancorp by 1.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 87,739 shares of the company’s stock worth $2,205,000 after buying an additional 1,662 shares during the last quarter. Arizona State Retirement System purchased a new position in shares of Customers Bancorp during the second quarter worth $329,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in shares of Customers Bancorp during the second quarter worth $229,000. Hedge funds and other institutional investors own 84.77% of the company’s stock.
Customers Bancorp Company Profile
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Company operates in the community banking segment. The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers.
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