Customers Bancorp (NYSE:CUBI) Given New $62.00 Price Target at Stephens

Key Points

• The price target for Customers Bancorp (NYSE:CUBI) has been raised from $55.00 to $62.00 by Stephens, indicating a potential downside from the current stock price.
• Other analysts have set varied price targets, with B. Riley raising theirs to $85.00 and DA Davidson to $78.00, reflecting a range of ratings from "hold" to "buy."
• Customers Bancorp recently reported earnings of $1.80 EPS, surpassing expectations and marking a revenue increase of 3.8% compared to last year.

Customers Bancorp (NYSE:CUBI - Free Report) had its target price upped by Stephens from $55.00 to $62.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the bank's stock.

Other equities research analysts also recently issued research reports about the stock. 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. B. Riley lifted their price target on Customers Bancorp from $82.00 to $85.00 and gave the company a "buy" rating in a report on Monday. DA Davidson lifted their price target on Customers Bancorp from $69.00 to $78.00 and gave the company a "buy" rating in a report on Monday. Finally, Wall Street Zen raised Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Six 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's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Customers Bancorp Stock Performance

CUBI traded down $1.55 during trading on Tuesday, reaching $62.20. 551,933 shares of the company's stock were exchanged, compared to its average volume of 306,886. Customers Bancorp has a fifty-two week low of $40.75 and a fifty-two week high of $67.19. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average price of $57.86 and a 200 day moving average price of $53.60. The company has a market capitalization of $1.96 billion, a P/E ratio of 15.40 and a beta of 1.55.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued 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 company had revenue of $206.31 million for the quarter, compared to the consensus estimate of $170.81 million. During the same quarter in the previous year, the company earned $1.49 EPS. The firm's revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, analysts predict that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

Institutional Trading of Customers Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. 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. bought a new stake in shares of Customers Bancorp in the 4th quarter valued at about $46,000. GAMMA Investing LLC increased its stake in shares of Customers Bancorp by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after acquiring an additional 403 shares during the last quarter. Summit Investment Advisors Inc. grew its position in shares of Customers Bancorp by 8.9% in the 4th 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 during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Customers Bancorp in the 4th quarter valued at approximately $202,000. 89.29% of the stock is owned by institutional investors.

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.