Customers Bancorp, Inc (NYSE:CUBI) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Customers Bancorp, Inc (NYSE:CUBI) has received a consensus rating of "Moderate Buy" from nine analysts, with an average price target of $67.00.
• Recent institutional investment activity shows significant stake changes, including Allspring Global Investments increasing its position by 16.4% in the second quarter.
• Customers Bancorp reported a quarterly earnings surprise, with $1.80 earnings per share, beating expectations by $0.30, and a revenue of $206.31 million.

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) has received an average rating of "Moderate Buy" from the nine analysts that are presently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $67.00.

A number of research analysts have issued reports on CUBI shares. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Stephens upped their target price on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday. B. Riley upped their price objective on shares of Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research report on Monday. Keefe, Bruyette & Woods raised their target price on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a report on Monday. Finally, DA Davidson boosted their price objective on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday.

Institutional Investors Weigh In On Customers Bancorp

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. bought a new stake in Customers Bancorp in the 2nd quarter worth about $418,000. Allspring Global Investments Holdings LLC boosted its stake in Customers Bancorp by 16.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 369,795 shares of the bank's stock worth $22,975,000 after buying an additional 52,211 shares during the period. Sippican Capital Advisors grew its position in Customers Bancorp by 4.7% in the 2nd quarter. Sippican Capital Advisors now owns 40,639 shares of the bank's stock valued at $2,387,000 after acquiring an additional 1,815 shares during the last quarter. Concurrent Investment Advisors LLC grew its position in shares of Customers Bancorp by 4.6% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank's stock worth $327,000 after buying an additional 243 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in Customers Bancorp by 8.2% during the second quarter. State of Alaska Department of Revenue now owns 17,480 shares of the bank's stock valued at $1,026,000 after purchasing an additional 1,326 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Customers Bancorp Stock Performance

Shares of Customers Bancorp stock opened at $65.44 on Wednesday. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of 16.20 and a beta of 1.55. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98. The business has a 50-day simple moving average of $57.10 and a 200 day simple moving average of $53.31. Customers Bancorp has a one year low of $40.75 and a one year high of $67.19.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $206.31 million during the quarter, compared to the consensus estimate of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The business's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.49 earnings per share. On average, research analysts anticipate that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.