Customers Bancorp’s (CUBI) Hold Rating Reaffirmed at Boenning Scattergood
Customers Bancorp, Inc (NYSE:CUBI)‘s stock had its “hold” rating restated by equities researchers at Boenning Scattergood in a research note issued on Friday.
CUBI has been the subject of several other reports. Maxim Group reaffirmed a “buy” rating and set a $50.00 target price on shares of Customers Bancorp in a research report on Thursday. BidaskClub raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, September 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $36.00 target price on shares of Customers Bancorp in a research report on Friday, June 30th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $40.50.
Customers Bancorp (NYSE:CUBI) traded down 0.21% during midday trading on Friday, reaching $28.59. The company had a trading volume of 436,817 shares. Customers Bancorp has a 12-month low of $24.68 and a 12-month high of $36.93. The company has a market capitalization of $878.57 million, a PE ratio of 11.69 and a beta of 0.67. The stock has a 50-day moving average price of $31.15 and a 200 day moving average price of $29.57.
Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.09). Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. The firm had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same period last year, the business earned $0.64 EPS. Equities analysts forecast that Customers Bancorp will post $2.21 EPS for the current year.
A number of large investors have recently made changes to their positions in CUBI. BlackRock Inc. raised its position in Customers Bancorp by 68,969.6% during the 1st quarter. BlackRock Inc. now owns 3,487,325 shares of the bank’s stock worth $109,954,000 after purchasing an additional 3,482,276 shares during the last quarter. State Street Corp raised its position in Customers Bancorp by 43.3% during the 1st quarter. State Street Corp now owns 1,036,453 shares of the bank’s stock worth $32,681,000 after purchasing an additional 313,181 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Customers Bancorp by 18.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,977,458 shares of the bank’s stock worth $55,924,000 after purchasing an additional 301,538 shares during the last quarter. New Amsterdam Partners LLC NY bought a new position in Customers Bancorp during the 2nd quarter worth $7,404,000. Finally, Teachers Advisors LLC raised its position in Customers Bancorp by 348.5% during the 2nd quarter. Teachers Advisors LLC now owns 310,683 shares of the bank’s stock worth $8,786,000 after purchasing an additional 241,407 shares during the last quarter. 87.82% of the stock is owned by institutional investors and hedge funds.
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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