Maxim Group Reaffirms Buy Rating for Customers Bancorp (NYSE:CUBI)

Customers Bancorp (NYSE:CUBI)‘s stock had its “buy” rating reaffirmed by equities researchers at Maxim Group in a research note issued on Friday, TipRanks reports. They currently have a $27.00 target price on the bank’s stock. Maxim Group’s price target would suggest a potential upside of 127.85% from the company’s current price.

A number of other research analysts have also weighed in on CUBI. Zacks Investment Research lowered Customers Bancorp from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. ValuEngine raised shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 2nd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $17.67.

Shares of Customers Bancorp stock opened at $11.85 on Friday. The firm has a market cap of $373.17 million, a price-to-earnings ratio of 5.11 and a beta of 1.48. Customers Bancorp has a 52-week low of $8.36 and a 52-week high of $25.72. The company’s 50-day simple moving average is $11.32 and its 200-day simple moving average is $14.35. The company has a quick ratio of 1.06, a current ratio of 1.42 and a debt-to-equity ratio of 1.30.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.17. Customers Bancorp had a return on equity of 10.77% and a net margin of 14.19%. The company had revenue of $114.22 million for the quarter, compared to analyst estimates of $108.09 million. Equities research analysts anticipate that Customers Bancorp will post 3 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sowell Financial Services LLC acquired a new position in Customers Bancorp during the first quarter worth $52,000. Envestnet Asset Management Inc. purchased a new position in shares of Customers Bancorp in the second quarter valued at $132,000. Royal Bank of Canada raised its stake in shares of Customers Bancorp by 469.8% during the 1st quarter. Royal Bank of Canada now owns 11,072 shares of the bank’s stock worth $121,000 after buying an additional 9,129 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Customers Bancorp by 78.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 11,420 shares of the bank’s stock worth $125,000 after buying an additional 5,033 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Customers Bancorp in the 1st quarter valued at about $154,000. Institutional investors and hedge funds own 80.40% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

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