BidaskClub downgraded shares of Customers Bancorp, Inc (NYSE:CUBI) from a hold rating to a sell rating in a research report report published on Thursday.
Other equities analysts have also issued research reports about the stock. Boenning Scattergood reissued a hold rating on shares of Customers Bancorp in a report on Friday, October 27th. Maxim Group reissued a buy rating and issued a $50.00 price target on shares of Customers Bancorp in a report on Thursday, October 26th. Finally, Zacks Investment Research raised shares of Customers Bancorp from a hold rating to a strong-buy rating and set a $36.00 price target on the stock in a report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $40.50.
Shares of Customers Bancorp (NYSE:CUBI) opened at $26.61 on Thursday. The firm has a market cap of $819.75, a P/E ratio of 9.30 and a beta of 0.63. Customers Bancorp has a twelve month low of $24.68 and a twelve month high of $36.93. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing the Zacks’ consensus estimate of $0.70 by ($0.09). The company had revenue of $86.05 million during the quarter, compared to the consensus estimate of $80.32 million. Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. During the same period in the previous year, the company earned $0.64 EPS. analysts forecast that Customers Bancorp will post 2.47 earnings per share for the current fiscal year.
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Several large investors have recently modified their holdings of CUBI. UBS Asset Management Americas Inc. grew its holdings in shares of Customers Bancorp by 52.9% during the 1st quarter. UBS Asset Management Americas Inc. now owns 10,400 shares of the bank’s stock valued at $328,000 after purchasing an additional 3,600 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Customers Bancorp by 4.8% during the 1st quarter. Principal Financial Group Inc. now owns 216,414 shares of the bank’s stock valued at $6,824,000 after purchasing an additional 9,890 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Customers Bancorp by 2.4% during the 1st quarter. Wellington Management Group LLP now owns 10,887 shares of the bank’s stock valued at $343,000 after purchasing an additional 258 shares during the last quarter. Teachers Advisors LLC grew its holdings in shares of Customers Bancorp by 7.1% during the 1st quarter. Teachers Advisors LLC now owns 69,276 shares of the bank’s stock valued at $2,184,000 after purchasing an additional 4,621 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Customers Bancorp by 2.5% during the 1st quarter. Legal & General Group Plc now owns 46,853 shares of the bank’s stock valued at $1,476,000 after purchasing an additional 1,122 shares during the last quarter. 87.22% of the stock is currently owned by hedge funds and other institutional investors.
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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