Customers Bancorp (NYSE:CUBI) Stock Price Up 5% Following Analyst Upgrade

Key Points

• Customers Bancorp's stock rose 5% after analyst Keefe, Bruyette & Woods upgraded their price target from $70.00 to $71.00, maintaining a market perform rating.
• The bank reported quarterly earnings of $1.80 EPS, exceeding estimates of $1.50 and demonstrating a 3.8% revenue increase year-over-year.
• Approximately 89.29% of Customers Bancorp's stock is owned by institutional investors and hedge funds, highlighting strong institutional interest in the company.

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report)'s stock price traded up 5% during trading on Monday after Stephens raised their price target on the stock from $55.00 to $62.00. Stephens currently has an equal weight rating on the stock. Customers Bancorp traded as high as $64.72 and last traded at $64.75. 143,859 shares changed hands during trading, a decline of 52% from the average session volume of 297,861 shares. The stock had previously closed at $61.69.

Other research analysts have also issued reports about the stock. B. Riley boosted their price objective on shares of Customers Bancorp from $82.00 to $85.00 and gave the stock a "buy" rating in a research note on Monday. DA Davidson boosted their price objective on shares of Customers Bancorp from $69.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday. Keefe, Bruyette & Woods boosted their price objective on shares of Customers Bancorp from $70.00 to $71.00 and gave the stock a "market perform" rating in a research note on Monday. Finally, Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. Six 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $67.00.

Institutional Trading of Customers Bancorp

Institutional investors have recently bought and sold shares of the business. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp during the 1st quarter worth approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Customers Bancorp during the 4th quarter worth approximately $46,000. GAMMA Investing LLC lifted its holdings in shares of Customers Bancorp by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock worth $95,000 after acquiring an additional 403 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of Customers Bancorp by 8.9% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after acquiring an additional 254 shares during the period. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Customers Bancorp during the 2nd quarter worth approximately $239,000. Institutional investors own 89.29% of the company's stock.

Customers Bancorp Stock Performance

The stock's fifty day moving average price is $57.34 and its two-hundred day moving average price is $53.40. 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 market cap of $2.01 billion, a P/E ratio of 15.78 and a beta of 1.55.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued 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. 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 firm's revenue was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.49 EPS. As a group, equities analysts predict that Customers Bancorp, Inc will post 6.45 earnings per share for the current year.

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.