BidaskClub upgraded shares of Customers Bancorp, Inc (NYSE:CUBI) from a hold rating to a buy rating in a research note issued to investors on Friday.

Several other research analysts have also recently weighed in on CUBI. Zacks Investment Research cut Customers Bancorp from a buy rating to a hold rating in a research note on Tuesday, September 26th. Keefe, Bruyette & Woods restated a hold rating and set a $36.00 price objective on shares of Customers Bancorp in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average target price of $39.50.

Customers Bancorp (NYSE CUBI) opened at 33.01 on Friday. Customers Bancorp has a 12 month low of $24.37 and a 12 month high of $36.93. The stock has a market cap of $1.01 billion, a PE ratio of 13.50 and a beta of 0.67. The stock has a 50 day moving average price of $29.07 and a 200-day moving average price of $29.38.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.16. Customers Bancorp had a return on equity of 15.93% and a net margin of 22.81%. The firm had revenue of $68.62 million during the quarter, compared to analyst estimates of $67.14 million. During the same period last year, the company posted $0.67 EPS. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. On average, analysts expect that Customers Bancorp will post $2.54 EPS for the current year.

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A number of large investors have recently added to or reduced their stakes in CUBI. Flinton Capital Management LLC increased its holdings in shares of Customers Bancorp by 176.7% in the 2nd quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock valued at $114,000 after purchasing an additional 2,584 shares during the period. SG Americas Securities LLC purchased a new position in Customers Bancorp during the second quarter valued at approximately $123,000. Nisa Investment Advisors LLC grew its position in Customers Bancorp by 8.7% during the second quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock valued at $158,000 after purchasing an additional 450 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Customers Bancorp by 80.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock valued at $159,000 after buying an additional 2,517 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in Customers Bancorp by 10.4% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,105 shares of the bank’s stock valued at $161,000 after buying an additional 479 shares during the period. 87.53% of the stock is currently owned by institutional investors.

About Customers Bancorp

Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).

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