Shares of Customers Bancorp, Inc (NYSE:CUBI) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $40.50.

Several equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of Customers Bancorp from a “hold” rating to a “strong-buy” rating and set a $36.00 target price on the stock in a report on Tuesday. Maxim Group reaffirmed a “buy” rating and issued a $50.00 target price on shares of Customers Bancorp in a report on Friday, October 20th. Boenning Scattergood lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating in a report on Friday, October 20th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $36.00 target price on shares of Customers Bancorp in a report on Friday, June 30th.

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A number of large investors have recently modified their holdings of CUBI. Prudential Financial Inc. lifted its position in Customers Bancorp by 22.7% during the 2nd quarter. Prudential Financial Inc. now owns 447,430 shares of the bank’s stock valued at $12,653,000 after purchasing an additional 82,680 shares during the period. LSV Asset Management raised its position in shares of Customers Bancorp by 42.5% in the 2nd quarter. LSV Asset Management now owns 268,108 shares of the bank’s stock valued at $7,582,000 after acquiring an additional 79,900 shares during the period. Bank of Montreal Can raised its position in shares of Customers Bancorp by 57.6% in the 2nd quarter. Bank of Montreal Can now owns 112,842 shares of the bank’s stock valued at $3,191,000 after acquiring an additional 41,241 shares during the period. Barings LLC acquired a new stake in shares of Customers Bancorp in the 1st quarter valued at approximately $372,000. Finally, Nuveen Asset Management LLC raised its position in shares of Customers Bancorp by 46.2% in the 1st quarter. Nuveen Asset Management LLC now owns 654,616 shares of the bank’s stock valued at $20,640,000 after acquiring an additional 206,750 shares during the period. 87.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Customers Bancorp (CUBI) opened at 30.99 on Wednesday. Customers Bancorp has a 52-week low of $24.68 and a 52-week high of $36.93. The company has a market capitalization of $952.32 million, a P/E ratio of 12.67 and a beta of 0.67. The firm’s 50 day moving average is $30.99 and its 200-day moving average is $29.58.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.16. Customers Bancorp had a net margin of 22.81% and a return on equity of 15.93%. The business had revenue of $68.62 million for the quarter, compared to analyst estimates of $67.14 million. During the same quarter in the prior year, the firm earned $0.67 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts anticipate that Customers Bancorp will post $2.54 earnings per share for the current fiscal year.

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 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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