Customers Bancorp (NYSE:CUBI) Price Target Cut to $90.00

Customers Bancorp (NYSE:CUBIGet Rating) had its price objective cut by research analysts at B. Riley from $100.00 to $90.00 in a research report issued to clients and investors on Tuesday, The Fly reports. B. Riley’s price target indicates a potential upside of 99.20% from the stock’s previous close.

CUBI has been the subject of a number of other reports. Maxim Group increased their target price on Customers Bancorp from $75.00 to $85.00 in a report on Wednesday, January 26th. Keefe, Bruyette & Woods raised shares of Customers Bancorp from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $72.00 to $80.00 in a research report on Monday, March 28th. Stephens assumed coverage on Customers Bancorp in a report on Monday, March 28th. They issued an “equal weight” rating and a $62.50 price target for the company. StockNews.com initiated coverage on Customers Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wedbush increased their price objective on Customers Bancorp from $75.00 to $80.00 in a report on Wednesday, January 26th. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Customers Bancorp presently has a consensus rating of “Buy” and a consensus target price of $69.31.

Shares of CUBI stock opened at $45.18 on Tuesday. The stock has a 50 day moving average of $56.05 and a two-hundred day moving average of $56.92. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.72. Customers Bancorp has a 12 month low of $29.17 and a 12 month high of $76.13. The company has a market capitalization of $1.49 billion, a P/E ratio of 5.11 and a beta of 1.54.

Customers Bancorp (NYSE:CUBIGet Rating) last announced its quarterly earnings data on Monday, January 24th. The bank reported $2.92 EPS for the quarter, missing the Zacks’ consensus estimate of $2.94 by ($0.02). Customers Bancorp had a return on equity of 32.38% and a net margin of 36.64%. The firm had revenue of $210.69 million during the quarter, compared to the consensus estimate of $225.40 million. During the same quarter in the prior year, the business posted $1.65 EPS. Sell-side analysts predict that Customers Bancorp will post 6.56 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in Customers Bancorp by 501.5% during the 4th quarter. Victory Capital Management Inc. now owns 570,420 shares of the bank’s stock worth $37,288,000 after purchasing an additional 475,590 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Customers Bancorp by 5.9% in the 4th quarter. JPMorgan Chase & Co. now owns 557,238 shares of the bank’s stock valued at $36,427,000 after acquiring an additional 30,974 shares in the last quarter. Geode Capital Management LLC raised its holdings in Customers Bancorp by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 522,349 shares of the bank’s stock valued at $34,145,000 after acquiring an additional 2,223 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in Customers Bancorp by 258.6% in the 4th quarter. Emerald Mutual Fund Advisers Trust now owns 520,600 shares of the bank’s stock valued at $34,032,000 after acquiring an additional 375,419 shares in the last quarter. Finally, Lord Abbett & CO. LLC raised its holdings in Customers Bancorp by 17.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 481,862 shares of the bank’s stock valued at $20,730,000 after acquiring an additional 71,600 shares in the last quarter. 83.73% of the stock is owned by institutional investors and hedge funds.

Customers Bancorp Company Profile (Get Rating)

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 offers deposits products, including checking, savings, MMDA, and other deposits accounts. It offers loan products, including commercial mortgage warehouse loans, multi-family and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

Featured Articles

The Fly logo

Analyst Recommendations for Customers Bancorp (NYSE:CUBI)

Receive News & Ratings for Customers Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.