Shares of Customers Bancorp Inc (NYSE:CUBI) have received a consensus recommendation of “Hold” from the nine brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation, one has given a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $32.40.
A number of research firms recently weighed in on CUBI. Zacks Investment Research lowered Customers Bancorp from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 18th. ValuEngine lowered Customers Bancorp from a “sell” rating to a “strong sell” rating in a research report on Monday, August 13th. Maxim Group reaffirmed a “buy” rating and set a $46.00 price objective on shares of Customers Bancorp in a research report on Tuesday, August 14th. Boenning Scattergood reaffirmed a “hold” rating on shares of Customers Bancorp in a research report on Wednesday, October 17th. Finally, Sandler O’Neill set a $27.00 price objective on Customers Bancorp and gave the company a “hold” rating in a research report on Monday, September 24th.
A number of hedge funds have recently bought and sold shares of the stock. Riverhead Capital Management LLC boosted its stake in Customers Bancorp by 44.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,784 shares of the bank’s stock valued at $192,000 after purchasing an additional 2,100 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new stake in Customers Bancorp during the 2nd quarter valued at $196,000. Tyers Asset Management LLC boosted its stake in Customers Bancorp by 44.6% during the 2nd quarter. Tyers Asset Management LLC now owns 7,448 shares of the bank’s stock valued at $211,000 after purchasing an additional 2,296 shares during the last quarter. Private Advisor Group LLC purchased a new stake in Customers Bancorp during the 2nd quarter valued at $251,000. Finally, Flinton Capital Management LLC boosted its stake in Customers Bancorp by 44.6% during the 2nd quarter. Flinton Capital Management LLC now owns 9,044 shares of the bank’s stock valued at $257,000 after purchasing an additional 2,788 shares during the last quarter. 81.74% of the stock is owned by institutional investors.
Shares of NYSE:CUBI traded down $0.19 during trading on Friday, hitting $21.17. The stock had a trading volume of 1,002 shares, compared to its average volume of 430,685. Customers Bancorp has a 12 month low of $18.57 and a 12 month high of $32.34. The firm has a market capitalization of $657.15 million, a P/E ratio of 9.65, a P/E/G ratio of 0.82 and a beta of 0.85. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.91 and a current ratio of 1.08.
Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, October 25th. The bank reported $0.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by ($0.03). Customers Bancorp had a return on equity of 13.10% and a net margin of 16.01%. The firm had revenue of $66.09 million during the quarter, compared to the consensus estimate of $64.64 million. On average, equities analysts forecast that Customers Bancorp will post 2.53 EPS 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 small and middle market businesses, not-for-profits, and consumers. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.
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