Customers Bancorp, Inc (NYSE:CUBI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Monday.
According to Zacks, “Customers Bancorp is a bank holding company of Customers Bank, a state-chartered bank in Pennsylvania. It provides banking services to small and medium-sized businesses, professionals, individuals and families. The company offers depository products, commercial lending products, specialty lending products and consumer lending. In addition, the company offers other financial services, including Internet banking, wire transfers, electronic bill payment, lock box, remote deposit capture, courier services, merchant processing, cash vault, controlled disbursements, and positive pay services, as well as cash management services comprising account reconciliation, collections, and sweep accounts. The bank has its branches in Pennsylvania, New York and New Jersey. Customers Bancorp is headquartered in Wyomissing, Pennsylvania. “
A number of other equities research analysts also recently commented on the company. Maxim Group reissued a “buy” rating and issued a $50.00 target price on shares of Customers Bancorp in a report on Friday, October 20th. BidaskClub raised Customers Bancorp from a “hold” rating to a “buy” rating in a report on Friday, September 29th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Customers Bancorp in a report on Friday, October 27th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.50.
Customers Bancorp (NYSE:CUBI) opened at 27.34 on Monday. The firm has a market capitalization of $840.16 million, a PE ratio of 11.18 and a beta of 0.67. Customers Bancorp has a 1-year low of $24.68 and a 1-year high of $36.93. The company has a 50 day moving average of $31.14 and a 200 day moving average of $29.53.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.09). Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same period in the prior year, the business earned $0.64 earnings per share. Analysts forecast that Customers Bancorp will post $2.21 EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in CUBI. Flinton Capital Management LLC lifted its holdings in Customers Bancorp by 176.7% in the second quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock valued at $114,000 after acquiring an additional 2,584 shares during the period. SG Americas Securities LLC acquired a new stake in Customers Bancorp in the second quarter valued at $123,000. Nisa Investment Advisors LLC lifted its holdings in Customers Bancorp by 8.7% in the second quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock valued at $158,000 after acquiring an additional 450 shares during the period. State of Alaska Department of Revenue lifted its holdings in Customers Bancorp by 80.2% in the second quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock valued at $159,000 after acquiring an additional 2,517 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in Customers Bancorp in the second quarter valued at $205,000. 87.47% of the stock is owned by institutional investors.
Customers Bancorp Company Profile
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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