Stephens Forecasts Strong Price Appreciation for Customers Bancorp (NYSE:CUBI) Stock

Customers Bancorp (NYSE:CUBI) had its price objective increased by Stephens from $53.00 to $55.00 in a report released on Monday morning,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other equities analysts have also recently issued reports about the stock. Hovde Group cut shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and set a $49.00 price objective for the company. in a research report on Friday, August 9th. Wedbush lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $79.00 to $53.00 in a report on Tuesday, September 24th. B. Riley upped their target price on shares of Customers Bancorp from $78.00 to $80.00 and gave the stock a “buy” rating in a report on Monday, November 4th. Raymond James dropped their target price on shares of Customers Bancorp from $80.00 to $70.00 and set a “strong-buy” rating for the company in a report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods lowered shares of Customers Bancorp from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $57.00 to $52.00 in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, five have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $61.11.

Customers Bancorp Stock Performance

CUBI opened at $56.55 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a fifty day moving average price of $47.31 and a 200 day moving average price of $49.05. Customers Bancorp has a 1 year low of $40.75 and a 1 year high of $68.49. The stock has a market cap of $1.79 billion, a P/E ratio of 9.18 and a beta of 1.61.

Customers Bancorp (NYSE:CUBI) last posted its earnings results on Thursday, October 31st. The bank reported $1.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.09). Customers Bancorp had a net margin of 15.22% and a return on equity of 13.55%. The firm had revenue of $167.10 million during the quarter, compared to analyst estimates of $191.61 million. During the same quarter in the prior year, the firm earned $2.59 earnings per share. The business’s revenue for the quarter was down 23.2% on a year-over-year basis. Equities research analysts anticipate that Customers Bancorp will post 5.63 earnings per share for the current year.

Insider Activity at Customers Bancorp

In other Customers Bancorp news, insider Glenn Hedde sold 5,002 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $53.68, for a total value of $268,507.36. Following the transaction, the insider now directly owns 66,256 shares in the company, valued at $3,556,622.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 6.92% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Customers Bancorp

Several hedge funds have recently added to or reduced their stakes in CUBI. Hood River Capital Management LLC increased its stake in Customers Bancorp by 94.3% in the second quarter. Hood River Capital Management LLC now owns 549,063 shares of the bank’s stock valued at $26,344,000 after purchasing an additional 266,462 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Customers Bancorp by 88.9% in the third quarter. Assenagon Asset Management S.A. now owns 479,739 shares of the bank’s stock valued at $22,284,000 after purchasing an additional 225,785 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Customers Bancorp during the second quarter worth approximately $7,690,000. Vanguard Group Inc. grew its position in shares of Customers Bancorp by 5.4% during the first quarter. Vanguard Group Inc. now owns 2,186,920 shares of the bank’s stock worth $116,038,000 after acquiring an additional 111,654 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Customers Bancorp by 14.6% during the second quarter. American Century Companies Inc. now owns 686,825 shares of the bank’s stock worth $32,954,000 after acquiring an additional 87,557 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

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.