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Customers Bancorp (NYSE:CUBI) Earns Buy Rating from Maxim Group

Last updated on Sunday, August 2, 2020 | 2020 MarketBeat

Customers Bancorp (NYSE:CUBI)'s stock had its "buy" rating reaffirmed by investment analysts at Maxim Group in a research report issued on Friday, TipRanks reports. They currently have a $27.00 price target on the bank's stock. Maxim Group's price target suggests a potential upside of 127.85% from the stock's current price.

CUBI has been the subject of a number of other reports. ValuEngine raised Customers Bancorp from a "strong sell" rating to a "sell" rating in a research note on Thursday, July 2nd. Zacks Investment Research downgraded Customers Bancorp from a "hold" rating to a "sell" rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. Customers Bancorp presently has an average rating of "Hold" and a consensus price target of $17.67.

Shares of NYSE:CUBI opened at $11.85 on Friday. Customers Bancorp has a 1 year low of $8.36 and a 1 year high of $25.72. The firm has a market capitalization of $373.16 million, a price-to-earnings ratio of 5.11 and a beta of 1.48. The company has a debt-to-equity ratio of 1.30, a current ratio of 1.42 and a quick ratio of 1.06. The business's 50 day moving average price is $11.32 and its 200-day moving average price is $14.35.

Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings data on Thursday, July 30th. The bank reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.17. Customers Bancorp had a return on equity of 10.77% and a net margin of 14.19%. The company had revenue of $114.22 million for the quarter, compared to analyst estimates of $108.09 million. On average, sell-side analysts expect that Customers Bancorp will post 3 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Comerica Bank increased its position in shares of Customers Bancorp by 8.2% during the 2nd quarter. Comerica Bank now owns 30,251 shares of the bank's stock worth $325,000 after purchasing an additional 2,280 shares during the last quarter. UBS Group AG boosted its holdings in Customers Bancorp by 57.3% during the 2nd quarter. UBS Group AG now owns 29,305 shares of the bank's stock valued at $352,000 after acquiring an additional 10,674 shares during the period. Mraz Amerine & Associates Inc. boosted its holdings in Customers Bancorp by 46.6% during the 2nd quarter. Mraz Amerine & Associates Inc. now owns 17,300 shares of the bank's stock valued at $208,000 after acquiring an additional 5,500 shares during the period. Strs Ohio boosted its holdings in Customers Bancorp by 26.1% during the 2nd quarter. Strs Ohio now owns 46,400 shares of the bank's stock valued at $557,000 after acquiring an additional 9,600 shares during the period. Finally, Denali Advisors LLC boosted its holdings in Customers Bancorp by 50.7% during the 2nd quarter. Denali Advisors LLC now owns 71,470 shares of the bank's stock valued at $859,000 after acquiring an additional 24,050 shares during the period. 80.40% of the stock is 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 small and middle market businesses, not-for-profits, and consumers. The company operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.

See Also: What is a Market Correction?

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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