Morgan Stanley Issues Pessimistic Forecast for Customers Bancorp (NYSE:CUBI) Stock Price

Customers Bancorp (NYSE:CUBI) had its target price decreased by investment analysts at Morgan Stanley from $92.00 to $83.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s target price would suggest a potential upside of 17.00% from the company’s current price.

Several other brokerages also recently issued reports on CUBI. Maxim Group set a $100.00 price target on Customers Bancorp in a research report on Monday, January 26th. B. Riley Financial reissued a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. Weiss Ratings upgraded Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. DA Davidson raised their target price on Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a report on Monday, January 26th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $95.00 price target on shares of Customers Bancorp in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.42.

Customers Bancorp Price Performance

Shares of Customers Bancorp stock opened at $70.94 on Tuesday. The firm has a fifty day simple moving average of $71.37 and a 200-day simple moving average of $70.37. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. Customers Bancorp has a 1-year low of $40.75 and a 1-year high of $82.56. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 11.44 and a beta of 1.57.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The business had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same period last year, the business posted $1.36 EPS. On average, sell-side analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Customers Bancorp announced that its board has authorized a share repurchase program on Wednesday, February 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to repurchase up to 4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Institutional Trading of Customers Bancorp

A number of hedge funds have recently modified their holdings of CUBI. Vanguard Group Inc. increased its position in shares of Customers Bancorp by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 2,221,339 shares of the bank’s stock valued at $162,424,000 after purchasing an additional 66,031 shares during the period. State Street Corp raised its stake in shares of Customers Bancorp by 1.8% in the fourth quarter. State Street Corp now owns 1,832,570 shares of the bank’s stock valued at $133,998,000 after purchasing an additional 32,449 shares in the last quarter. Hood River Capital Management LLC lifted its position in Customers Bancorp by 1.6% in the second quarter. Hood River Capital Management LLC now owns 1,523,025 shares of the bank’s stock worth $89,462,000 after purchasing an additional 23,416 shares during the period. American Century Companies Inc. lifted its position in Customers Bancorp by 7.9% in the third quarter. American Century Companies Inc. now owns 945,825 shares of the bank’s stock worth $61,829,000 after purchasing an additional 69,200 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its stake in Customers Bancorp by 3,074.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after buying an additional 844,141 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.