Brokerages Set Customers Bancorp, Inc. (NYSE:CUBI) Target Price at $61.50

Shares of Customers Bancorp, Inc. (NYSE:CUBI) have been given an average rating of “Buy” by the eight research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $61.50.

A number of analysts have weighed in on CUBI shares. Jefferies Financial Group increased their price objective on Customers Bancorp from $61.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Hovde Group decreased their price target on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. Finally, Wedbush dropped their price objective on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CUBI. Charles Schwab Investment Management Inc. raised its position in shares of Customers Bancorp by 3.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 372,690 shares of the bank’s stock valued at $12,839,000 after acquiring an additional 14,158 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Customers Bancorp in the 3rd quarter worth about $1,619,000. Federated Hermes Inc. boosted its holdings in shares of Customers Bancorp by 29,550.0% in the 3rd quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock valued at $123,000 after buying an additional 3,546 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in shares of Customers Bancorp during the 3rd quarter valued at about $606,000. Finally, Numerai GP LLC acquired a new stake in Customers Bancorp during the third quarter worth about $363,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Stock Down 0.3 %

CUBI stock opened at $46.82 on Tuesday. The stock has a market cap of $1.47 billion, a P/E ratio of 6.54 and a beta of 1.63. The company has a current ratio of 0.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.89. Customers Bancorp has a twelve month low of $28.64 and a twelve month high of $60.09. The company’s 50 day moving average is $46.43 and its two-hundred day moving average is $50.50.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Friday, April 26th. The bank reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.05. The business had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The business’s quarterly revenue was up 8.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.58 EPS. Research analysts expect that Customers Bancorp will post 6.35 earnings per share for the current fiscal year.

About Customers Bancorp

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 provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.