Wall Street Zen Upgrades Customers Bancorp (NYSE:CUBI) to "Hold"

Wall Street Zen upgraded shares of Customers Bancorp (NYSE:CUBI - Free Report) from a sell rating to a hold rating in a report released on Friday.

CUBI has been the subject of a number of other reports. Keefe, Bruyette & Woods upped their price objective on shares of Customers Bancorp from $65.00 to $70.00 and gave the stock a "market perform" rating in a research report on Friday, July 11th. B. Riley raised their price target on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a report on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $65.33.

Customers Bancorp Stock Performance

CUBI stock traded down $0.20 during midday trading on Friday, hitting $63.91. The company's stock had a trading volume of 148,726 shares, compared to its average volume of 348,081. The stock has a market cap of $2.02 billion, a price-to-earnings ratio of 16.12 and a beta of 1.55. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.76. The stock's 50-day moving average price is $56.04 and its 200 day moving average price is $52.66. Customers Bancorp has a 1 year low of $40.75 and a 1 year high of $68.49.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.26. Customers Bancorp had a return on equity of 11.64% and a net margin of 10.51%. The company had revenue of $194.28 million during the quarter, compared to the consensus estimate of $165.24 million. During the same quarter in the prior year, the business earned $1.68 earnings per share. On average, equities analysts forecast that Customers Bancorp will post 6.45 EPS for the current year.

Institutional Trading of Customers Bancorp

Several hedge funds have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp bought a new stake in shares of Customers Bancorp in the first quarter valued at approximately $37,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Customers Bancorp during the fourth quarter worth about $46,000. GAMMA Investing LLC lifted its stake in 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 buying an additional 403 shares during the period. Summit Investment Advisors Inc. boosted its holdings in 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 last quarter. Finally, Hsbc Holdings PLC purchased a new stake in shares of Customers Bancorp in the 4th quarter valued at about $202,000. Institutional investors and hedge funds 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.