Customers Bancorp, Inc (CUBI) Downgraded to “Strong Sell” at BidaskClub
BidaskClub cut shares of Customers Bancorp, Inc (NYSE:CUBI) from a sell rating to a strong sell rating in a report published on Friday morning.
Other research analysts have also recently issued reports about the stock. Maxim Group reiterated a buy rating and set a $50.00 price target on shares of Customers Bancorp in a research report on Friday, October 20th. Zacks Investment Research upgraded shares of Customers Bancorp from a hold rating to a buy rating and set a $32.00 price target on the stock in a research report on Monday, July 31st. Finally, Boenning Scattergood reiterated a hold rating on shares of Customers Bancorp in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. Customers Bancorp presently has an average rating of Hold and a consensus price target of $40.50.
Customers Bancorp (NYSE:CUBI) opened at $25.91 on Friday. Customers Bancorp has a 52-week low of $24.75 and a 52-week high of $36.93. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17. The company has a market cap of $772.00, a P/E ratio of 8.76 and a beta of 0.63.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing analysts’ consensus estimates of $0.70 by ($0.09). Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. The business had revenue of $86.05 million for the quarter, compared to the consensus estimate of $80.32 million. During the same quarter in the previous year, the business earned $0.64 earnings per share. equities research analysts predict that Customers Bancorp will post 2.47 EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of the company. Alps Advisors Inc. grew its holdings in shares of Customers Bancorp by 0.3% in the second quarter. Alps Advisors Inc. now owns 14,590 shares of the bank’s stock worth $413,000 after purchasing an additional 38 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Customers Bancorp by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,700 shares of the bank’s stock worth $331,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Customers Bancorp by 1.4% in the second quarter. Arizona State Retirement System now owns 15,000 shares of the bank’s stock worth $424,000 after purchasing an additional 200 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Customers Bancorp by 2.4% in the first quarter. Wellington Management Group LLP now owns 10,887 shares of the bank’s stock worth $343,000 after purchasing an additional 258 shares during the last quarter. Finally, Texas Permanent School Fund grew its holdings in shares of Customers Bancorp by 2.0% in the second quarter. Texas Permanent School Fund now owns 21,025 shares of the bank’s stock worth $595,000 after purchasing an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 87.57% of the company’s stock.
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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