Customers Bancorp Inc. (CUBI) Receives Consensus Recommendation of “Hold” from Analysts
Shares of Customers Bancorp Inc. (NYSE:CUBI) have been given an average rating of “Hold” by the six ratings firms that are currently covering the company. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $31.63.
A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 20th. Zacks Investment Research lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a report on Friday, July 22nd. Finally, FBR & Co set a $32.00 target price on shares of Customers Bancorp and gave the company a “buy” rating in a report on Thursday, July 21st.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Virginia Retirement System bought a new position in shares of Customers Bancorp during the first quarter valued at $432,000. BlackRock Institutional Trust Company N.A. raised its position in shares of 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 during the last quarter. Menta Capital LLC acquired a new position in Customers Bancorp during the first quarter valued at approximately $235,000. Spark Investment Management LLC acquired a new position in Customers Bancorp during the first quarter valued at approximately $446,000. Finally, Granahan Investment Management Inc. MA raised its position in Customers Bancorp by 11.8% in the first quarter. Granahan Investment Management Inc. MA now owns 540,907 shares of the company’s stock valued at $12,782,000 after buying an additional 56,907 shares during the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.
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Shares of Customers Bancorp (NYSE:CUBI) traded up 0.52% on Wednesday, hitting $25.22. 19,730 shares of the company were exchanged. The firm has a market cap of $688.30 million, a P/E ratio of 11.21 and a beta of 0.61. The company has a 50-day moving average price of $25.66 and a 200 day moving average price of $25.57. Customers Bancorp has a 52-week low of $21.66 and a 52-week high of $31.63.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.60 EPS for the quarter, meeting the Zacks’ 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 period in the previous year, the business posted $0.52 EPS. Analysts predict that Customers Bancorp will post $2.40 EPS for the current fiscal year.
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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