Customers Bancorp (NYSE:CUBI – Get Free Report) had its price objective dropped by equities research analysts at Jefferies Financial Group from $59.00 to $57.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 16.40% from the stock’s current price.
Several other research firms have also issued reports on CUBI. Hovde Group decreased their target price on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Thursday, May 2nd. Wedbush reduced their price target on Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $60.63.
View Our Latest Research Report on CUBI
Customers Bancorp Trading Down 0.9 %
Customers Bancorp (NYSE:CUBI – Get Free Report) last posted its earnings results on Friday, April 26th. The bank reported $1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.05. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The firm had revenue of $181.62 million for the quarter, compared to analyst estimates of $183.48 million. During the same quarter in the prior year, the company earned $1.58 EPS. Customers Bancorp’s revenue was up 8.1% on a year-over-year basis. Analysts expect that Customers Bancorp will post 6.35 EPS for the current fiscal year.
Institutional Investors Weigh In On Customers Bancorp
Several hedge funds and other institutional investors have recently made changes to their positions in CUBI. Wellington Management Group LLP raised its position in shares of Customers Bancorp by 28.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,132,205 shares of the bank’s stock worth $73,454,000 after acquiring an additional 475,907 shares in the last quarter. Access Investment Management LLC purchased a new position in Customers Bancorp during the 4th quarter worth approximately $16,194,000. Federated Hermes Inc. grew its stake in Customers Bancorp by 3,784.1% during the 4th quarter. Federated Hermes Inc. now owns 138,196 shares of the bank’s stock worth $7,963,000 after buying an additional 134,638 shares during the last quarter. Vanguard Group Inc. grew its stake in Customers Bancorp by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after buying an additional 111,654 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in Customers Bancorp by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 183,169 shares of the bank’s stock worth $10,554,000 after buying an additional 91,311 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.
Customers Bancorp Company Profile
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.
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