Keefe, Bruyette & Woods Issues Positive Forecast for Customers Bancorp (NYSE:CUBI) Stock Price

Key Points

• Keefe, Bruyette & Woods has raised the price target for Customers Bancorp from $70.00 to $71.00, indicating a potential upside of 11.75% from its current price.
• Other brokerages, such as B. Riley and Wall Street Zen, have also updated their ratings, with B. Riley setting a target price of $82.00 and a "buy" rating.
• The bank reported $1.80 earnings per share for the last quarter, exceeding the consensus estimate by $0.30, with revenue totaling $206.31 million.

Customers Bancorp (NYSE:CUBI - Get Free Report) had its target price raised by stock analysts at Keefe, Bruyette & Woods from $70.00 to $71.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target points to a potential upside of 11.30% from the stock's previous close.

Several other brokerages have also recently issued reports on CUBI. B. Riley lifted their price objective on Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Six equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Customers Bancorp has an average rating of "Moderate Buy" and an average target price of $67.00.

Customers Bancorp Trading Down 1.9%

NYSE:CUBI traded down $1.23 on Monday, reaching $63.79. 173,814 shares of the company's stock were exchanged, compared to its average volume of 304,284. 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 firm has a market capitalization of $2.02 billion, a price-to-earnings ratio of 15.76 and a beta of 1.55. The business has a fifty day moving average of $57.34 and a 200-day moving average of $53.40. Customers Bancorp has a 52-week low of $40.75 and a 52-week high of $67.19.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The bank reported $1.80 earnings per share (EPS) for the quarter, topping 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 net margin of 10.77% and a return on equity of 11.98%. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 earnings per share. As a group, analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. EP Wealth Advisors LLC grew its holdings in shares of Customers Bancorp by 5.3% during the first quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank's stock worth $222,000 after buying an additional 223 shares during the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Customers Bancorp by 4.6% during the second quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank's stock worth $327,000 after buying an additional 243 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Customers Bancorp by 8.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after buying an additional 254 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Customers Bancorp by 3.8% during the first quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock worth $373,000 after purchasing an additional 270 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in Customers Bancorp by 27.2% during the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock worth $95,000 after purchasing an additional 403 shares in the last quarter. Hedge funds and other institutional investors 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.