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Customers Bancorp (NYSE:CUBI) Receives "Hold (C)" Rating from Weiss Ratings

Customers Bancorp logo with Finance background

Key Points

  • Customers Bancorp's stock has been reaffirmed with a "hold (C)" rating by Weiss Ratings, while analysts from other firms have varying ratings, including "buy" from DA Davidson with a price target increase to $78.00.
  • As of the latest trading session, CUBI stock was priced at $64.52, down $1.04, with a market cap of approximately $2.04 billion and a P/E ratio of 15.97.
  • The company reported strong quarterly earnings, with an EPS of $1.80, surpassing estimates, and revenue of $206.31 million, indicating a year-over-year increase of 3.8%.
  • Five stocks we like better than Customers Bancorp.

Customers Bancorp (NYSE:CUBI - Get Free Report)'s stock had its "hold (c)" rating reaffirmed by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on CUBI. DA Davidson raised their price target on Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, July 28th. Wall Street Zen upgraded Customers Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. TD Cowen assumed coverage on Customers Bancorp in a research report on Thursday, September 25th. They set a "buy" rating and a $89.00 target price on the stock. B. Riley lifted their target price on Customers Bancorp from $85.00 to $86.00 and gave the company a "buy" rating in a research report on Tuesday, September 23rd. Finally, Keefe, Bruyette & Woods lifted their target price on Customers Bancorp from $71.00 to $76.00 and gave the company a "market perform" rating in a research report on Friday, September 5th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $76.88.

Check Out Our Latest Analysis on CUBI

Customers Bancorp Stock Performance

Shares of CUBI stock traded down $1.04 on Wednesday, reaching $64.52. The stock had a trading volume of 160,751 shares, compared to its average volume of 324,428. The stock has a market cap of $2.04 billion, a P/E ratio of 15.97 and a beta of 1.55. Customers Bancorp has a 1 year low of $40.75 and a 1 year high of $72.51. 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 50 day simple moving average of $66.62 and a 200 day simple moving average of $58.10.

Customers Bancorp (NYSE:CUBI - Get Free Report) last released 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 firm had revenue of $206.31 million for the quarter, compared to the consensus estimate of $170.81 million. Customers Bancorp had a return on equity of 11.98% and a net margin of 10.77%.The company's revenue for the quarter was up 3.8% on a year-over-year basis. During the same period last year, the business posted $1.49 EPS. Equities research analysts expect that Customers Bancorp will post 6.45 EPS for the current year.

Institutional Investors Weigh In On Customers Bancorp

Several large investors have recently made changes to their positions in CUBI. Wellington Management Group LLP increased its holdings in shares of Customers Bancorp by 34.3% in the first quarter. Wellington Management Group LLP now owns 3,532,851 shares of the bank's stock worth $177,349,000 after purchasing an additional 902,406 shares during the last quarter. Nuveen LLC bought a new stake in shares of Customers Bancorp in the first quarter worth about $26,652,000. Anatole Investment Management Ltd bought a new stake in shares of Customers Bancorp in the second quarter worth about $17,593,000. Millennium Management LLC increased its holdings in shares of Customers Bancorp by 71.4% in the first quarter. Millennium Management LLC now owns 274,730 shares of the bank's stock worth $13,791,000 after purchasing an additional 114,430 shares during the last quarter. Finally, Access Investment Management LLC bought a new stake in shares of Customers Bancorp in the second quarter worth about $6,721,000. 89.29% of the stock is owned by institutional investors.

Customers Bancorp Company Profile

(Get Free Report)

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.

See Also

Analyst Recommendations for Customers Bancorp (NYSE:CUBI)

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