Customers Bancorp (NYSE:CUBI) Hits New 52-Week High - Time to Buy?

Key Points

• Customers Bancorp shares reached a new 52-week high of $72.18, indicating strong market performance.
• Several analysts upgraded their target prices for the stock, with DA Davidson raising their target from $69.00 to $78.00 and maintaining a "buy" rating.
• Customers Bancorp reported $1.80 earnings per share, exceeding the consensus estimate of $1.50, demonstrating strong financial performance this quarter.

Shares of Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $72.18 and last traded at $70.37, with a volume of 424535 shares trading hands. The stock had previously closed at $71.17.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. 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. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Keefe, Bruyette & Woods boosted their target price on shares of Customers Bancorp from $70.00 to $71.00 and gave the company a "market perform" rating in a research note on Monday, July 28th. Stephens boosted 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. Finally, B. Riley boosted 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. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Customers Bancorp presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.25.

Customers Bancorp Trading Down 1.0%

The company has a market cap of $2.24 billion, a price-to-earnings ratio of 17.57 and a beta of 1.62. The firm's fifty day moving average price is $64.33 and its 200-day moving average price is $55.38. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.98 and a quick ratio of 0.98.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 earnings per share for the quarter, topping the consensus estimate 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 company's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.49 earnings per share. On average, equities analysts expect that Customers Bancorp, Inc will post 6.45 EPS for the current fiscal year.

Institutional Investors Weigh In On Customers Bancorp

Several institutional investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas lifted its holdings in Customers Bancorp by 4.2% in the second quarter. Teacher Retirement System of Texas now owns 4,542 shares of the bank's stock worth $267,000 after purchasing an additional 185 shares during the period. EP Wealth Advisors LLC lifted its holdings in Customers Bancorp by 5.3% in the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank's stock worth $222,000 after purchasing an additional 223 shares during the period. Concurrent Investment Advisors LLC lifted its holdings in Customers Bancorp by 4.6% in the second quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank's stock worth $327,000 after purchasing an additional 243 shares during the period. Russell Investments Group Ltd. lifted its holdings in Customers Bancorp by 0.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 80,896 shares of the bank's stock valued at $4,752,000 after acquiring an additional 244 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Customers Bancorp by 3.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock valued at $373,000 after acquiring an additional 270 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

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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