Customers Bancorp (NYSE:CUBI) Upgraded at Stephens

Stephens upgraded shares of Customers Bancorp (NYSE:CUBI) from an underweight rating to an equal weight rating in a report released on Monday morning, MarketBeat Ratings reports. They currently have $71.00 target price on the bank’s stock.

CUBI has been the subject of several other research reports. Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 2nd. Raymond James Financial reiterated a “strong-buy” rating and set a $95.00 target price on shares of Customers Bancorp in a research report on Tuesday, January 6th. DA Davidson increased their price target on shares of Customers Bancorp from $93.00 to $95.00 and gave the company a “buy” rating in a research note on Monday, January 26th. B. Riley Financial reissued a “buy” rating on shares of Customers Bancorp in a report on Monday, January 26th. Finally, Wall Street Zen cut shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research report on Sunday, January 25th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $87.67.

Customers Bancorp Price Performance

Customers Bancorp stock opened at $65.55 on Monday. The business’s fifty day moving average is $73.37 and its two-hundred day moving average is $70.45. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market cap of $2.24 billion, a P/E ratio of 10.57 and a beta of 1.66. Customers Bancorp has a 52 week low of $40.75 and a 52 week high of $82.56.

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

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

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Price T Rowe Associates Inc. MD raised its stake in shares of Customers Bancorp by 3,074.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 871,596 shares of the bank’s stock worth $63,732,000 after buying an additional 844,141 shares during the last quarter. Anatole Investment Management Ltd acquired a new stake in Customers Bancorp during the 2nd quarter worth $17,593,000. Millennium Management LLC grew its holdings in Customers Bancorp by 448.8% during the 3rd quarter. Millennium Management LLC now owns 327,784 shares of the bank’s stock worth $21,427,000 after acquiring an additional 268,056 shares during the period. Emerald Advisers LLC bought a new stake in shares of Customers Bancorp during the 3rd quarter valued at $15,150,000. Finally, Northwestern Mutual Wealth Management Co. raised its position in shares of Customers Bancorp by 247,273.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 222,636 shares of the bank’s stock valued at $16,279,000 after acquiring an additional 222,546 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

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.