Keefe, Bruyette & Woods Lowers Customers Bancorp Inc. (CUBI) Price Target to $29.00
Customers Bancorp Inc. (NYSE:CUBI) had its target price lowered by equities researchers at Keefe, Bruyette & Woods from $31.00 to $29.00 in a research note issued to investors on Tuesday. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 14.94% from the company’s current price.
Several other equities research analysts also recently commented on the stock. FBR & Co reiterated an “outperform” rating and set a $32.00 target price on shares of Customers Bancorp in a research report on Friday, June 24th. Zacks Investment Research downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. Finally, TheStreet downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Customers Bancorp presently has an average rating of “Hold” and a consensus price target of $31.10.
Shares of Customers Bancorp (NYSE:CUBI) opened at 25.23 on Tuesday. The firm has a 50-day moving average of $26.09 and a 200 day moving average of $25.47. The company has a market cap of $688.58 million, a P/E ratio of 11.22 and a beta of 0.60. Customers Bancorp has a 52 week low of $21.66 and a 52 week high of $31.63.
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Customers Bancorp (NYSE:CUBI) last posted its earnings results on Wednesday, July 20th. The company reported $0.60 EPS for the quarter, hitting the consensus estimate of $0.60. Customers Bancorp had a net margin of 22.25% and a return on equity of 13.73%. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities analysts anticipate that Customers Bancorp will post $2.40 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virginia Retirement System bought a new stake in Customers Bancorp during the first quarter valued at $432,000. BlackRock Group LTD raised its stake in Customers Bancorp by 228.3% in the first quarter. BlackRock Group LTD now owns 8,988 shares of the company’s stock valued at $212,000 after buying an additional 6,250 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Customers Bancorp by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 648,234 shares of the company’s stock valued at $15,318,000 after buying an additional 3,289 shares in the last quarter. Columbia Partners L L C Investment Management bought a new stake in Customers Bancorp during the first quarter valued at $1,978,000. Finally, Menta Capital LLC bought a new stake in Customers Bancorp during the first quarter valued at $235,000. Hedge funds and other institutional investors own 84.77% of the company’s stock.
About Customers Bancorp
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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