Customers Bancorp (NYSE:CUBI) Rating Lowered to “Hold” at Zacks Research

Customers Bancorp (NYSE:CUBI) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

CUBI has been the topic of a number of other reports. B. Riley Financial reaffirmed a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. DA Davidson raised their target price on shares of Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Stephens downgraded shares of Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 price target for the company. in a research report on Friday, February 6th. JPMorgan Chase & Co. assumed coverage on Customers Bancorp in a research report on Friday, March 6th. They set an “overweight” rating and a $90.00 price target on the stock. Finally, Raymond James Financial restated a “strong-buy” rating and set a $95.00 price objective on shares of Customers Bancorp in a research note on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Customers Bancorp has a consensus rating of “Moderate Buy” and a consensus price target of $88.18.

Customers Bancorp Stock Performance

Shares of NYSE CUBI opened at $66.59 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $2.28 billion, a price-to-earnings ratio of 10.74 and a beta of 1.66. The stock’s fifty day moving average price is $74.36 and its two-hundred day moving average price is $70.62. Customers Bancorp has a one year low of $40.75 and a one year high of $82.56.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $236.90 million during the quarter, compared to the consensus estimate of $200.38 million. Customers Bancorp had a return on equity of 14.05% and a net margin of 15.15%.During the same quarter last year, the firm earned $1.36 earnings per share. On average, equities analysts forecast that Customers Bancorp will post 6.45 EPS for the current year.

Customers Bancorp announced that its board has initiated a stock buyback program on Wednesday, February 11th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the bank to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Customers Bancorp

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Arax Advisory Partners raised its holdings in Customers Bancorp by 218.9% in the 4th quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after buying an additional 243 shares during the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp during the 3rd quarter worth approximately $29,000. Jones Financial Companies Lllp acquired a new position in Customers Bancorp in the 1st quarter valued at approximately $37,000. Transamerica Financial Advisors LLC increased its position in Customers Bancorp by 216.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after acquiring an additional 404 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Customers Bancorp by 63.1% during the third quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after acquiring an additional 260 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.