Customers Bancorp, Inc (CUBI) Receives Average Rating of “Hold” from Analysts

Customers Bancorp, Inc (NYSE:CUBI) has earned an average recommendation of “Hold” from the eight analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $40.33.

A number of research firms have weighed in on CUBI. Maxim Group reissued a “buy” rating and set a $50.00 price objective on shares of Customers Bancorp in a research note on Thursday, October 26th. Boenning Scattergood lowered Customers Bancorp from an “outperform” rating to a “neutral” rating in a research note on Friday, October 20th. Zacks Investment Research lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. BidaskClub lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, October 25th. Finally, TheStreet lowered Customers Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday, November 8th.

In related news, COO Richard A. Ehst sold 9,000 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $26.70, for a total transaction of $240,300.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Robert E. Wahlman sold 50,000 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $26.66, for a total value of $1,333,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,129 shares of company stock worth $1,603,489. Corporate insiders own 8.67% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of CUBI. Dimensional Fund Advisors LP increased its holdings 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 period. Teachers Advisors LLC increased its holdings in shares of Customers Bancorp by 348.5% in the 2nd quarter. Teachers Advisors LLC now owns 310,683 shares of the bank’s stock valued at $8,786,000 after acquiring an additional 241,407 shares during the last quarter. Legacy Advisors LLC purchased a new position in shares of Customers Bancorp in the 3rd quarter valued at about $5,339,000. Kornitzer Capital Management Inc. KS purchased a new position in shares of Customers Bancorp in the 3rd quarter valued at about $5,190,000. Finally, Citigroup Inc. increased its holdings in shares of Customers Bancorp by 467.0% in the 2nd quarter. Citigroup Inc. now owns 151,067 shares of the bank’s stock valued at $4,272,000 after acquiring an additional 124,424 shares during the last quarter. 87.86% of the stock is currently owned by hedge funds and other institutional investors.

Customers Bancorp (NYSE:CUBI) opened at $26.47 on Thursday. The firm has a market capitalization of $819.14, a price-to-earnings ratio of 9.30 and a beta of 0.61. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17. Customers Bancorp has a 12 month low of $24.75 and a 12 month high of $36.93.

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 Zacks’ consensus estimate of $0.70 by ($0.09). The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. During the same period last year, the firm posted $0.64 EPS. equities analysts forecast that Customers Bancorp will post 2.47 EPS for the current fiscal year.

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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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