Brokerages Set Customers Bancorp Inc (NYSE:CUBI) PT at $30.33

Customers Bancorp Inc (NYSE:CUBI) has received an average rating of “Hold” from the seven ratings firms that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $34.00.

A number of equities analysts have commented on the stock. Maxim Group reiterated a “buy” rating and issued a $38.00 target price on shares of Customers Bancorp in a report on Wednesday, July 10th. B. Riley set a $30.00 target price on shares of Customers Bancorp and gave the stock a “buy” rating in a report on Tuesday, May 14th. Zacks Investment Research downgraded shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Thursday. Sandler O’Neill lowered Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. Finally, TheStreet lowered Customers Bancorp from a “b-” rating to a “c+” rating in a research note on Thursday, May 23rd.

Shares of CUBI stock traded down $0.15 on Tuesday, hitting $19.40. The stock had a trading volume of 44,792 shares, compared to its average volume of 175,244. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.11 and a current ratio of 1.11. The business has a 50 day moving average price of $20.11. The company has a market capitalization of $608.90 million, a P/E ratio of 7.98, a PEG ratio of 1.00 and a beta of 1.01. Customers Bancorp has a one year low of $16.72 and a one year high of $25.68.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, July 24th. The bank reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $64.68 million during the quarter, compared to the consensus estimate of $64.51 million. Customers Bancorp had a return on equity of 9.54% and a net margin of 10.13%. The firm’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.73 earnings per share. On average, research analysts predict that Customers Bancorp will post 1.95 earnings per share for the current fiscal year.

In other news, insider James T. Collins sold 5,500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $20.61, for a total transaction of $113,355.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.54% of the stock is currently owned by insiders.

Hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its position in Customers Bancorp by 136.7% in the second quarter. Bank of Montreal Can now owns 4,059 shares of the bank’s stock valued at $85,000 after buying an additional 2,344 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Customers Bancorp by 75,462.5% in the first quarter. BNP Paribas Arbitrage SA now owns 6,045 shares of the bank’s stock valued at $111,000 after buying an additional 6,037 shares during the last quarter. Financial Gravity Wealth Inc. purchased a new stake in Customers Bancorp in the first quarter valued at approximately $125,000. Municipal Employees Retirement System of Michigan purchased a new stake in Customers Bancorp in the fourth quarter valued at approximately $152,000. Finally, Metropolitan Life Insurance Co. NY boosted its position in Customers Bancorp by 303.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,793 shares of the bank’s stock valued at $178,000 after buying an additional 7,365 shares during the last quarter. Institutional investors and hedge funds own 81.04% 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 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: SEC Filing

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