Customers Bancorp, Inc (NYSE:CUBI) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Customers Bancorp, Inc has received a consensus recommendation of "Moderate Buy" from eight analysts, with an average 12-month price target of $69.25.
• The company reported a quarterly EPS of $1.80, exceeding estimates of $1.50, and a revenue of $206.31 million, surpassing expectations of $170.81 million.
• Significant institutional investment changes were noted, with major firms like Millennium Management LLC and Russell Investments Group Ltd. increasing their stakes in Customers Bancorp.

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) has been given an average rating of "Moderate Buy" by the eight research firms that are currently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $69.25.

CUBI has been the topic of several research reports. Stephens lifted their price target on shares of Customers Bancorp from $55.00 to $62.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. B. Riley lifted their price target on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a report on Monday, July 28th. Keefe, Bruyette & Woods lifted their price target on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a report on Monday, July 28th. DA Davidson lifted their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th.

Institutional Investors Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Sector Pension Investment Board boosted its position in Customers Bancorp by 7.3% during the 2nd quarter. Public Sector Pension Investment Board now owns 120,225 shares of the bank's stock worth $7,062,000 after buying an additional 8,133 shares during the period. Tower Research Capital LLC TRC boosted its position in Customers Bancorp by 235.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 5,701 shares of the bank's stock worth $335,000 after buying an additional 4,000 shares during the period. Anatole Investment Management Ltd acquired a new stake in Customers Bancorp during the 2nd quarter worth approximately $17,593,000. Tidal Investments LLC boosted its position in Customers Bancorp by 45.3% during the 2nd quarter. Tidal Investments LLC now owns 301,982 shares of the bank's stock worth $17,738,000 after buying an additional 94,105 shares during the period. Finally, Militia Capital Partners LP boosted its position in Customers Bancorp by 56.3% during the 2nd quarter. Militia Capital Partners LP now owns 25,000 shares of the bank's stock worth $1,468,000 after buying an additional 9,000 shares during the period. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Price Performance

CUBI stock traded up $0.85 during mid-day trading on Friday, hitting $71.08. The stock had a trading volume of 181,484 shares, compared to its average volume of 299,677. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.77. Customers Bancorp has a 52 week low of $40.75 and a 52 week high of $71.13. The firm has a market capitalization of $2.25 billion, a P/E ratio of 17.59 and a beta of 1.59. The firm has a fifty day simple moving average of $62.79 and a 200 day simple moving average of $54.98.

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

Customers Bancorp Company Profile

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.