Customers Bancorp Inc. (CUBI) Receives Average Rating of “Hold” from Brokerages
Customers Bancorp Inc. (NYSE:CUBI) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the firm. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $31.63.
Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Friday, July 22nd. FBR & Co restated an “outperform” rating and issued a $32.00 price target on shares of Customers Bancorp in a research report on Friday, June 24th. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating for the company in a research report on Tuesday, September 20th.
A number of large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Customers Bancorp by 620.3% in the first quarter. Royal Bank of Canada now owns 4,725 shares of the company’s stock worth $111,000 after buying an additional 4,069 shares during the last quarter. Mason Street Advisors LLC bought a new stake in Customers Bancorp during the second quarter worth about $124,000. BlackRock Inc. increased its stake in Customers Bancorp by 167.1% in the second quarter. BlackRock Inc. now owns 5,040 shares of the company’s stock worth $127,000 after buying an additional 3,153 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Customers Bancorp by 555.6% in the third quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the company’s stock worth $148,000 after buying an additional 5,000 shares during the last quarter. Finally, Creative Planning increased its stake in Customers Bancorp by 36.3% in the third quarter. Creative Planning now owns 6,054 shares of the company’s stock worth $152,000 after buying an additional 1,612 shares during the last quarter. Institutional investors own 84.74% of the company’s stock.
Shares of Customers Bancorp (NYSE:CUBI) opened at 24.63 on Wednesday. The stock has a market capitalization of $672.20 million, a PE ratio of 10.95 and a beta of 0.62. The company’s 50-day moving average is $25.57 and its 200-day moving average is $25.56. Customers Bancorp has a 12 month low of $21.66 and a 12 month high of $31.63.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. Customers Bancorp had a net margin of 22.25% and a return on equity of 13.73%. During the same period in the prior year, the firm posted $0.52 earnings per share. Equities research analysts expect that Customers Bancorp will post $2.40 earnings per share for the current fiscal year.
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 Company operates in the community banking segment. The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers.
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