Customers Bancorp, Inc. (NYSE:CUBI) Receives $64.00 Consensus Target Price from Analysts

Customers Bancorp, Inc. (NYSE:CUBI - Get Free Report) has received a consensus rating of "Moderate Buy" from the ten research firms that are currently covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $64.00.

A number of equities analysts have recently commented on CUBI shares. Keefe, Bruyette & Woods lowered their price target on Customers Bancorp from $67.00 to $65.00 and set a "market perform" rating for the company in a report on Monday, April 28th. B. Riley boosted their target price on Customers Bancorp from $81.00 to $82.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, June 6th.

Customers Bancorp Price Performance

CUBI traded down $1.68 on Tuesday, hitting $50.22. 250,915 shares of the stock were exchanged, compared to its average volume of 355,210. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 9.89 and a beta of 1.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.96 and a quick ratio of 0.95. Customers Bancorp has a 12 month low of $40.75 and a 12 month high of $68.49. The business has a 50-day moving average of $49.88 and a two-hundred day moving average of $51.30.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.26. Customers Bancorp had a net margin of 13.07% and a return on equity of 12.29%. The business had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. During the same quarter last year, the business posted $1.68 EPS. Sell-side analysts forecast that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Customers Bancorp

Several large investors have recently modified their holdings of the business. Picton Mahoney Asset Management increased its holdings in Customers Bancorp by 47.7% in the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after purchasing an additional 189 shares during the period. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the 1st quarter valued at about $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Customers Bancorp in the fourth quarter valued at about $46,000. KBC Group NV raised its position in shares of Customers Bancorp by 82.8% during the fourth quarter. KBC Group NV now owns 1,495 shares of the bank's stock worth $73,000 after acquiring an additional 677 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Customers Bancorp by 323.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank's stock worth $80,000 after acquiring an additional 1,255 shares during the last quarter. Institutional investors own 89.29% of the company's stock.

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.