Customers Bancorp, Inc (CUBI) Receives Average Recommendation of “Hold” from Brokerages
Shares of Customers Bancorp, Inc (NYSE:CUBI) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $42.00.
A number of analysts recently commented on CUBI shares. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $37.00 price objective on shares of Customers Bancorp in a research report on Thursday, April 27th. Zacks Investment Research cut Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. Maxim Group reiterated a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a research report on Thursday, April 27th. TheStreet upgraded Customers Bancorp from a “c+” rating to a “b” rating in a research report on Wednesday, May 17th. Finally, BidaskClub cut Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Sunday.
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Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Customers Bancorp by 68,969.6% in the first quarter. BlackRock Inc. now owns 3,487,325 shares of the bank’s stock worth $109,954,000 after buying an additional 3,482,276 shares during the period. Dimensional Fund Advisors LP raised its position in Customers Bancorp by 18.6% in the first quarter. Dimensional Fund Advisors LP now owns 1,675,920 shares of the bank’s stock worth $52,842,000 after buying an additional 263,321 shares during the period. Vanguard Group Inc. raised its position in Customers Bancorp by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,451,753 shares of the bank’s stock worth $45,774,000 after buying an additional 83,233 shares during the period. Victory Capital Management Inc. raised its position in Customers Bancorp by 37.1% in the first quarter. Victory Capital Management Inc. now owns 1,177,660 shares of the bank’s stock worth $37,132,000 after buying an additional 318,752 shares during the period. Finally, Alliancebernstein L.P. raised its position in Customers Bancorp by 1.2% in the first quarter. Alliancebernstein L.P. now owns 1,037,212 shares of the bank’s stock worth $32,703,000 after buying an additional 12,630 shares during the period. 88.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Customers Bancorp (NYSE CUBI) traded down 0.683% on Monday, reaching $28.345. The company’s stock had a trading volume of 35,197 shares. Customers Bancorp has a 52-week low of $24.37 and a 52-week high of $36.93. The company has a market cap of $868.38 million, a price-to-earnings ratio of 11.766 and a beta of 0.63. The stock has a 50-day moving average of $28.83 and a 200 day moving average of $32.16.
Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Wednesday, April 26th. The bank reported $0.71 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.09. Customers Bancorp had a return on equity of 15.32% and a net margin of 22.34%. The firm had revenue of $62.42 million during the quarter, compared to analysts’ expectations of $66.31 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. On average, equities research analysts forecast that Customers Bancorp will post $2.58 earnings per share for the current 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 Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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