Customers Bancorp (NYSE:CUBI) Price Target Lowered to $52.00 at Stephens

Customers Bancorp (NYSE:CUBIGet Rating) had its target price decreased by Stephens from $54.00 to $52.00 in a research report released on Tuesday morning, MarketBeat reports. Stephens currently has an equal weight rating on the bank’s stock.

A number of other research analysts have also weighed in on the stock. DA Davidson reissued a neutral rating on shares of Customers Bancorp in a research report on Wednesday, July 27th. Maxim Group reissued a buy rating and set a $85.00 price target on shares of Customers Bancorp in a research report on Friday, April 29th. Jefferies Financial Group dropped their price target on shares of Customers Bancorp from $63.00 to $48.00 in a research report on Monday, July 11th. Finally, B. Riley dropped their price target on shares of Customers Bancorp from $90.00 to $85.00 in a research report on Monday, July 11th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $69.57.

Customers Bancorp Stock Up 0.5 %

Customers Bancorp stock opened at $37.06 on Tuesday. Customers Bancorp has a 1-year low of $32.19 and a 1-year high of $76.13. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 3.71 and a beta of 1.60. The firm’s fifty day moving average price is $36.68 and its two-hundred day moving average price is $46.50. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.67.

Customers Bancorp (NYSE:CUBIGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The bank reported $1.68 earnings per share for the quarter, missing analysts’ consensus estimates of $1.76 by ($0.08). Customers Bancorp had a net margin of 38.56% and a return on equity of 29.54%. During the same quarter in the prior year, the business earned $1.76 earnings per share. On average, equities research analysts predict that Customers Bancorp will post 7.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Customers Bancorp

Large investors have recently modified their holdings of the business. Point72 Hong Kong Ltd purchased a new position in shares of Customers Bancorp in the fourth quarter worth about $34,000. Meeder Asset Management Inc. purchased a new position in shares of Customers Bancorp in the first quarter worth about $39,000. Lazard Asset Management LLC increased its stake in shares of Customers Bancorp by 70.5% in the fourth quarter. Lazard Asset Management LLC now owns 687 shares of the bank’s stock worth $44,000 after purchasing an additional 284 shares in the last quarter. National Bank of Canada FI purchased a new position in shares of Customers Bancorp in the fourth quarter worth about $87,000. Finally, KBC Group NV purchased a new position in shares of Customers Bancorp in the second quarter worth about $89,000. Hedge funds and other institutional investors own 83.48% of the company’s stock.

About Customers Bancorp

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Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

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