Brokerages Set Customers Bancorp Inc (CUBI) PT at $28.80

Shares of Customers Bancorp Inc (NYSE:CUBI) have received a consensus rating of “Hold” from the seven brokerages that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $28.80.

A number of analysts have recently commented on CUBI shares. Zacks Investment Research lowered Customers Bancorp from a “hold” rating to a “strong sell” rating in a report on Thursday, October 18th. Maxim Group restated a “buy” rating and issued a $46.00 price target on shares of Customers Bancorp in a report on Tuesday, August 14th. Boenning Scattergood upgraded Customers Bancorp from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Friday, October 26th. ValuEngine lowered Customers Bancorp from a “sell” rating to a “strong sell” rating in a report on Monday, August 13th. Finally, Sandler O’Neill set a $27.00 price target on Customers Bancorp and gave the company a “hold” rating in a report on Monday, September 24th.

Several institutional investors have recently modified their holdings of CUBI. Principal Financial Group Inc. raised its holdings in Customers Bancorp by 5.2% during the first quarter. Principal Financial Group Inc. now owns 243,728 shares of the bank’s stock worth $7,105,000 after acquiring an additional 12,127 shares in the last quarter. Creative Planning raised its holdings in Customers Bancorp by 15.5% during the second quarter. Creative Planning now owns 14,904 shares of the bank’s stock worth $423,000 after acquiring an additional 2,000 shares in the last quarter. Alps Advisors Inc. bought a new stake in Customers Bancorp during the second quarter worth about $426,000. Eqis Capital Management Inc. bought a new stake in Customers Bancorp during the second quarter worth about $899,000. Finally, Piedmont Investment Advisors LLC bought a new stake in Customers Bancorp during the second quarter worth about $196,000. Institutional investors own 80.18% of the company’s stock.

Shares of Customers Bancorp stock traded up $0.22 during trading on Thursday, reaching $19.51. The stock had a trading volume of 297,948 shares, compared to its average volume of 230,693. The firm has a market cap of $618.21 million, a price-to-earnings ratio of 8.87, a price-to-earnings-growth ratio of 0.77 and a beta of 0.85. Customers Bancorp has a 52 week low of $18.57 and a 52 week high of $32.34. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.08 and a quick ratio of 1.08.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Thursday, October 25th. The bank reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.65 by ($0.03). The firm had revenue of $66.09 million during the quarter, compared to the consensus estimate of $64.64 million. Customers Bancorp had a net margin of 16.01% and a return on equity of 13.10%. On average, equities analysts expect that Customers Bancorp will post 2.53 EPS for the current year.

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 accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.

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Analyst Recommendations for Customers Bancorp (NYSE:CUBI)

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