Maxim Group Reaffirms “Buy” Rating for Customers Bancorp, Inc (CUBI)
Other analysts have also issued reports about the company. Boenning Scattergood reissued a hold rating on shares of Customers Bancorp in a report on Friday, October 27th. Zacks Investment Research raised Customers Bancorp from a hold rating to a strong-buy rating and set a $36.00 price objective on the stock in a report on Tuesday, October 24th. Finally, BidaskClub raised Customers Bancorp from a strong sell rating to a sell rating in a report on Saturday, September 16th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $40.50.
Shares of Customers Bancorp (NYSE:CUBI) opened at $26.64 on Wednesday. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.17 and a quick ratio of 0.91. Customers Bancorp has a 1-year low of $24.75 and a 1-year high of $36.93. The company has a market capitalization of $820.68, a P/E ratio of 9.40 and a beta of 0.65.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.09). Customers Bancorp had a net margin of 19.75% and a return on equity of 15.38%. The business had revenue of $86.05 million during the quarter, compared to analyst estimates of $80.32 million. During the same period in the previous year, the business posted $0.64 earnings per share. equities research analysts anticipate that Customers Bancorp will post 2.47 EPS for the current year.
Several large investors have recently modified their holdings of CUBI. BlackRock Inc. boosted its stake in shares of Customers Bancorp by 68,969.6% in the first quarter. BlackRock Inc. now owns 3,487,325 shares of the bank’s stock worth $109,954,000 after acquiring an additional 3,482,276 shares during the last quarter. State Street Corp boosted its stake in shares of Customers Bancorp by 43.3% in the first quarter. State Street Corp now owns 1,036,453 shares of the bank’s stock worth $32,681,000 after acquiring an additional 313,181 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Customers Bancorp by 18.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,977,458 shares of the bank’s stock worth $55,924,000 after acquiring an additional 301,538 shares during the last quarter. New Amsterdam Partners LLC NY acquired a new stake in shares of Customers Bancorp in the second quarter worth approximately $7,404,000. Finally, Teachers Advisors LLC boosted its stake in shares of Customers Bancorp by 348.5% in the second quarter. Teachers Advisors LLC now owns 310,683 shares of the bank’s stock worth $8,786,000 after acquiring an additional 241,407 shares during the last quarter. 89.16% of the stock is currently owned by hedge funds and other institutional investors.
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About Customers Bancorp
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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