Customers Bancorp (NYSE:CUBI – Get Free Report)‘s stock had its “outperform” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a research note issued on Monday, Benzinga reports. They presently have a $76.00 price target on the bank’s stock, up from their previous price target of $65.00. Keefe, Bruyette & Woods’ price objective points to a potential upside of 15.31% from the stock’s previous close.
A number of other brokerages have also issued reports on CUBI. Wedbush increased their price target on Customers Bancorp from $56.00 to $79.00 and gave the company an “outperform” rating in a research note on Friday. Jefferies Financial Group cut their price objective on Customers Bancorp from $59.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, July 3rd. Finally, Hovde Group cut their price objective on Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $64.33.
Read Our Latest Stock Analysis on CUBI
Customers Bancorp Stock Performance
Customers Bancorp (NYSE:CUBI – Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The bank reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.06. The firm had revenue of $198.69 million during the quarter, compared to analyst estimates of $184.40 million. Customers Bancorp had a return on equity of 17.09% and a net margin of 17.38%. The firm’s quarterly revenue was up 3.9% on a year-over-year basis. During the same period last year, the company posted $1.65 EPS. As a group, analysts predict that Customers Bancorp will post 6.41 EPS for the current fiscal year.
Institutional Trading of Customers Bancorp
A number of hedge funds have recently modified their holdings of CUBI. SG Americas Securities LLC purchased a new stake in shares of Customers Bancorp in the fourth quarter valued at $404,000. Raymond James & Associates raised its holdings in shares of Customers Bancorp by 223.3% during the fourth quarter. Raymond James & Associates now owns 30,248 shares of the bank’s stock worth $1,743,000 after acquiring an additional 20,892 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Customers Bancorp by 458.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 49,083 shares of the bank’s stock worth $2,828,000 after acquiring an additional 40,287 shares in the last quarter. Sageworth Trust Co purchased a new stake in shares of Customers Bancorp during the fourth quarter worth $314,000. Finally, Advisors Preferred LLC purchased a new stake in shares of Customers Bancorp during the fourth quarter worth $1,297,000. Hedge funds and other institutional investors 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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