Keefe, Bruyette & Woods Forecasts Strong Price Appreciation for Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp (NYSE:CUBI - Get Free Report) had its price target boosted by research analysts at Keefe, Bruyette & Woods from $65.00 to $70.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a "market perform" rating on the bank's stock. Keefe, Bruyette & Woods' price target would suggest a potential upside of 9.83% from the company's current price.

A number of other analysts have also commented on the company. Wall Street Zen lowered Customers Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, June 21st. B. Riley upped their price target on Customers Bancorp from $81.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $65.33.

Customers Bancorp Stock Performance

Customers Bancorp stock traded down $0.14 on Friday, hitting $63.74. The company's stock had a trading volume of 63,006 shares, compared to its average volume of 356,469. The firm has a market cap of $2.01 billion, a P/E ratio of 16.05 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 company has a fifty day moving average price of $54.55 and a 200-day moving average price of $51.98. Customers Bancorp has a one year low of $40.75 and a one 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 (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.26. Customers Bancorp had a net margin of 10.51% and a return on equity of 11.64%. The company had revenue of $194.28 million for the quarter, compared to analyst estimates of $165.24 million. During the same quarter last year, the firm earned $1.68 EPS. On average, equities analysts anticipate that Customers Bancorp will post 6.45 earnings per share for the current year.

Institutional Investors Weigh In On Customers Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the business. Picton Mahoney Asset Management boosted its position in Customers Bancorp by 47.7% during the 4th quarter. Picton Mahoney Asset Management now owns 585 shares of the bank's stock valued at $28,000 after acquiring an additional 189 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of Customers Bancorp in the 1st quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Customers Bancorp in the 4th quarter worth $46,000. GAMMA Investing LLC boosted its position in shares of Customers Bancorp by 27.2% in the 1st 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. Finally, Summit Investment Advisors Inc. boosted its position in shares of Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock worth $151,000 after purchasing an additional 254 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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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