Customers Bancorp (NYSE:CUBI) Hits New 52-Week High - Here's Why

Key Points

• Customers Bancorp (NYSE:CUBI) reached a new 52-week high of $67.34 during trading, reflecting strong interest with a trading volume of 19,108 shares.
• Analysts have recently upgraded their ratings and price targets for Customers Bancorp, with DA Davidson setting a new target at $78.00 and B. Riley increasing theirs to $85.00.
• In its latest earnings report, Customers Bancorp delivered $1.80 EPS, beating estimates of $1.50 and achieving revenue of $206.31 million for the quarter.

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) hit a new 52-week high during trading on Tuesday . The stock traded as high as $67.34 and last traded at $67.01, with a volume of 19108 shares trading hands. The stock had previously closed at $66.55.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CUBI shares. DA Davidson boosted their target price on shares of Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Keefe, Bruyette & Woods upped their price objective 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. B. Riley upped their target price on shares of Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a research report on Monday, July 28th. Wall Street Zen raised shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Finally, Stephens increased their price target on shares of Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.25.

Customers Bancorp Stock Down 0.8%

The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The company has a market cap of $2.09 billion, a PE ratio of 16.35 and a beta of 1.59. The firm has a fifty day simple moving average of $60.88 and a 200 day simple moving average of $54.54.

Customers Bancorp (NYSE:CUBI - Get Free Report) last announced its earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The company had revenue of $206.31 million for the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.Customers Bancorp's quarterly revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.49 EPS. Equities research analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors have recently bought and sold shares of CUBI. Wells Fargo & Company MN raised its stake in shares of Customers Bancorp by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 17,424 shares of the bank's stock valued at $848,000 after acquiring an additional 3,792 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Customers Bancorp by 20.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,777 shares of the bank's stock worth $865,000 after acquiring an additional 2,994 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Customers Bancorp during the fourth quarter worth about $2,543,000. Summit Investment Advisors Inc. grew its stake in Customers Bancorp by 8.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after purchasing an additional 254 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Customers Bancorp in the fourth quarter valued at about $1,752,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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