Shares of Customers Bancorp Inc. (NYSE:CUBI) have received a consensus rating of “Hold” from the six research firms that are presently covering the firm. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $31.63.
A number of research analysts recently issued reports on CUBI shares. FBR & Co restated an “outperform” rating and set a $32.00 price objective on shares of Customers Bancorp in a report on Friday, June 24th. Zacks Investment Research lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, July 22nd. Finally, Keefe, Bruyette & Woods cut their price target on shares of Customers Bancorp from $31.00 to $29.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 20th.
Customers Bancorp (NYSE:CUBI) opened at 24.63 on Wednesday. The firm has a market capitalization of $672.20 million, a price-to-earnings ratio of 10.95 and a beta of 0.62. Customers Bancorp has a 1-year low of $21.66 and a 1-year high of $31.63. The company has a 50-day moving average of $25.57 and a 200-day moving average of $25.56.
Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, July 20th. The company reported $0.60 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.60. Customers Bancorp had a net margin of 22.25% and a return on equity of 13.73%. During the same quarter in the previous year, the company earned $0.52 earnings per share. On average, equities analysts predict that Customers Bancorp will post $2.40 earnings per share for the current year.
Several hedge funds have recently made changes to their positions in CUBI. BlackRock Fund Advisors raised its stake in shares of Customers Bancorp by 147.9% in the second quarter. BlackRock Fund Advisors now owns 1,680,575 shares of the company’s stock worth $42,233,000 after buying an additional 1,002,514 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Customers Bancorp by 1.6% in the second quarter. Ameriprise Financial Inc. now owns 1,620,721 shares of the company’s stock worth $40,729,000 after buying an additional 25,352 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Customers Bancorp by 27.5% in the second quarter. Vanguard Group Inc. now owns 1,214,045 shares of the company’s stock worth $30,508,000 after buying an additional 261,949 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Customers Bancorp by 13.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,089,067 shares of the company’s stock worth $27,368,000 after buying an additional 130,880 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Customers Bancorp by 11.9% in the second quarter. Alliancebernstein L.P. now owns 904,933 shares of the company’s stock worth $22,741,000 after buying an additional 95,890 shares in the last quarter. 84.74% of the stock is currently owned by institutional investors and hedge funds.
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 Company operates in the community banking segment. The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers.
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