Customers Bancorp, Inc. (NYSE:CUBI) Receives $63.80 Average Price Target from Brokerages

Customers Bancorp, Inc. (NYSE:CUBI) has earned an average recommendation of “Moderate Buy” from the ten analysts that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $64.00.

CUBI has been the subject of a number of recent research reports. Maxim Group boosted their target price on shares of Customers Bancorp from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, January 27th. Keefe, Bruyette & Woods cut their price objective on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. B. Riley upped their price objective on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a report on Friday. DA Davidson upped their price objective on shares of Customers Bancorp from $68.00 to $71.00 and gave the company a “buy” rating in a report on Monday, January 27th. Finally, Stephens restated an “equal weight” rating and set a $58.00 price objective on shares of Customers Bancorp in a report on Friday, January 24th.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $54.54 on Friday. The company has a market capitalization of $1.72 billion, a PE ratio of 10.74 and a beta of 1.51. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96. The company has a 50-day simple moving average of $49.18 and a two-hundred day simple moving average of $51.49. Customers Bancorp has a one year low of $40.75 and a one year high of $68.49.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, April 24th. The bank reported $1.54 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.26. The business had revenue of $194.28 million during the quarter, compared to the consensus estimate of $165.24 million. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. During the same period in the previous year, the company posted $1.68 earnings per share. Research analysts expect that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Customers Bancorp

Large investors have recently bought and sold shares of the company. Picton Mahoney Asset Management boosted its position in Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after buying an additional 189 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in Customers Bancorp in the first quarter valued at approximately $37,000. R Squared Ltd purchased a new stake in Customers Bancorp in the fourth quarter valued at approximately $42,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Customers Bancorp in the fourth quarter valued at approximately $46,000. Finally, KBC Group NV boosted its position in Customers Bancorp by 82.8% in the fourth quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after buying an additional 677 shares during the last quarter. Hedge funds and other institutional investors own 89.29% 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 individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.