Customers Bancorp (NYSE:CUBI) PT Lowered to $63.00

Customers Bancorp (NYSE:CUBI) had its price objective decreased by analysts at Keefe, Bruyette & Woods from $76.00 to $63.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 37.17% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group cut their price objective on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, July 3rd. B. Riley upped their target price on Customers Bancorp from $77.00 to $78.00 and gave the company a “buy” rating in a report on Monday, July 29th. DA Davidson upped their target price on Customers Bancorp from $71.00 to $79.00 and gave the company a “buy” rating in a report on Monday, July 29th. Wedbush upped their target price on Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Hovde Group lowered Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 target price for the company. in a report on Friday. Three research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.50.

Customers Bancorp Stock Down 2.3 %

Shares of NYSE:CUBI traded down $1.08 during trading on Friday, hitting $45.93. The company’s stock had a trading volume of 900,391 shares, compared to its average volume of 364,531. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.91 and a current ratio of 0.93. Customers Bancorp has a fifty-two week low of $31.16 and a fifty-two week high of $68.49. The stock’s 50-day moving average price is $51.86 and its two-hundred day moving average price is $50.98. The company has a market capitalization of $1.45 billion, a PE ratio of 6.41 and a beta of 1.65.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 EPS for the quarter, topping the consensus estimate of $1.43 by $0.06. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The business had revenue of $198.69 million for the quarter, compared to analysts’ expectations of $184.40 million. During the same quarter in the previous year, the firm posted $1.65 earnings per share. The company’s revenue was up 3.9% compared to the same quarter last year. As a group, sell-side analysts expect that Customers Bancorp will post 6.36 EPS for the current year.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ridgewood Investments LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at $48,000. GAMMA Investing LLC acquired a new stake in shares of Customers Bancorp during the 4th quarter valued at $78,000. Innealta Capital LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at $74,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Customers Bancorp during the 2nd quarter valued at $151,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Customers Bancorp during the 4th quarter valued at $209,000. 89.29% of the stock is owned by institutional investors.

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.