Customers Bancorp (NYSE:CUBI) Price Target Raised to $82.00

Customers Bancorp (NYSE:CUBI) had its price target increased by Keefe, Bruyette & Woods from $76.00 to $82.00 in a research note released on Monday,Benzinga reports. They currently have a market perform rating on the bank’s stock.

CUBI has been the topic of several other reports. Wall Street Zen raised Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Customers Bancorp in a report on Wednesday, October 8th. Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a report on Monday. TD Cowen assumed coverage on shares of Customers Bancorp in a research note on Thursday, September 25th. They set a “buy” rating and a $89.00 target price on the stock. Finally, National Bankshares set a $89.00 target price on shares of Customers Bancorp in a research note on Wednesday, September 24th. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Customers Bancorp has an average rating of “Moderate Buy” and an average price target of $80.38.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $67.28 on Monday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 13.65 and a beta of 1.55. The firm’s 50-day moving average is $67.03 and its 200 day moving average is $60.11. Customers Bancorp has a 1 year low of $40.75 and a 1 year high of $72.51. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share (EPS) for the quarter. The firm had revenue of $206.82 million for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. Sell-side analysts anticipate that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Yorktown Management & Research Co Inc bought a new stake in Customers Bancorp during the third quarter valued at about $317,000. Amalgamated Bank increased its stake in Customers Bancorp by 3.5% during the third quarter. Amalgamated Bank now owns 8,668 shares of the bank’s stock worth $567,000 after acquiring an additional 290 shares during the last quarter. Concurrent Investment Advisors LLC increased its stake in Customers Bancorp by 13.0% during the third quarter. Concurrent Investment Advisors LLC now owns 6,285 shares of the bank’s stock worth $411,000 after acquiring an additional 723 shares during the last quarter. CX Institutional bought a new position in shares of Customers Bancorp during the 3rd quarter valued at approximately $67,000. Finally, KLP Kapitalforvaltning AS increased its position in shares of Customers Bancorp by 5.3% during the 3rd quarter. KLP Kapitalforvaltning AS now owns 6,000 shares of the bank’s stock valued at $392,000 after purchasing an additional 300 shares during the last quarter. 89.29% of the stock is currently 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.