Customers Bancorp, Inc (CUBI) Upgraded at BidaskClub
Customers Bancorp, Inc (NYSE:CUBI) was upgraded by equities research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Saturday.
Several other research analysts have also issued reports on the company. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $36.00 target price on shares of Customers Bancorp in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Customers Bancorp has an average rating of “Hold” and an average price target of $39.50.
Shares of Customers Bancorp (NYSE:CUBI) traded up 0.35% during midday trading on Friday, reaching $28.60. The company’s stock had a trading volume of 529,482 shares. The stock has a 50-day moving average price of $28.48 and a 200-day moving average price of $29.66. Customers Bancorp has a 52-week low of $24.37 and a 52-week high of $36.93. The stock has a market cap of $878.88 million, a price-to-earnings ratio of 11.70 and a beta of 0.65.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.16. Customers Bancorp had a return on equity of 15.93% and a net margin of 22.81%. The firm had revenue of $68.62 million during the quarter, compared to analyst estimates of $67.14 million. During the same quarter in the prior year, the company earned $0.67 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Customers Bancorp will post $2.67 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Alps Advisors Inc. raised its position in shares of Customers Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 14,590 shares of the bank’s stock worth $413,000 after acquiring an additional 38 shares in the last quarter. Texas Permanent School Fund raised its position in shares of Customers Bancorp by 0.4% in the 1st quarter. Texas Permanent School Fund now owns 20,615 shares of the bank’s stock worth $650,000 after acquiring an additional 75 shares in the last quarter. Louisiana State Employees Retirement System raised its position in shares of Customers Bancorp by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the bank’s stock worth $331,000 after acquiring an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in shares of Customers Bancorp by 0.5% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 37,550 shares of the bank’s stock worth $1,184,000 after acquiring an additional 200 shares in the last quarter. Finally, Arizona State Retirement System raised its position in shares of Customers Bancorp by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 15,000 shares of the bank’s stock worth $424,000 after acquiring an additional 200 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.
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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