Customers Bancorp (NYSE:CUBI) Stock Price Expected to Rise, B. Riley Analyst Says

Key Points

• B. Riley has increased its target price for Customers Bancorp stock from $85 to $86, indicating a potential upside of 29.13% based on its previous close.
• The bank reported a quarterly EPS of $1.80, surpassing expectations, with revenue reaching $206.31 million, exceeding forecasts by $35.5 million.
• Institutional investors hold 89.29% of Customers Bancorp's stock, reflecting strong investor confidence following several companies boosting their positions.

Customers Bancorp (NYSE:CUBI - Get Free Report) had its target price raised by research analysts at B. Riley from $85.00 to $86.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the bank's stock. B. Riley's price target indicates a potential upside of 29.13% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. Keefe, Bruyette & Woods boosted their price objective on shares of Customers Bancorp from $71.00 to $76.00 and gave the company a "market perform" rating in a report on Friday, September 5th. Stephens lifted their target price on shares of Customers Bancorp from $55.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 29th. DA Davidson raised their price target on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a report on Friday, July 18th. One equities 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. According to data from MarketBeat, Customers Bancorp has a consensus rating of "Moderate Buy" and an average price target of $70.00.

Customers Bancorp Stock Up 0.0%

CUBI traded up $0.02 during trading on Tuesday, hitting $66.60. The company had a trading volume of 110,083 shares, compared to its average volume of 316,020. The company has a market capitalization of $2.11 billion, a PE ratio of 16.50 and a beta of 1.62. Customers Bancorp has a one year low of $40.75 and a one year high of $72.51. The firm's 50-day moving average price is $66.15 and its 200 day moving average price is $56.92. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77.

Customers Bancorp (NYSE:CUBI - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $206.31 million for the quarter, compared to analysts' expectations of $170.81 million. During the same period in the previous year, the firm posted $1.49 EPS. The firm's revenue was up 3.8% compared to the same quarter last year. As a group, equities analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Hedge Funds Weigh In On Customers Bancorp

Several institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp purchased a new stake in Customers Bancorp during the 1st quarter valued at approximately $37,000. GAMMA Investing LLC grew its holdings in shares of Customers Bancorp by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after purchasing an additional 403 shares in the last quarter. Osaic Holdings Inc. grew its holdings in shares of Customers Bancorp by 24.8% in the second quarter. Osaic Holdings Inc. now owns 2,121 shares of the bank's stock valued at $124,000 after purchasing an additional 421 shares in the last quarter. Corton Capital Inc. purchased a new position in shares of Customers Bancorp in the second quarter valued at $207,000. Finally, Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna purchased a new position in shares of Customers Bancorp in the second quarter valued at $235,000. Institutional investors own 89.29% of the company's stock.

About Customers Bancorp

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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