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

Customers Bancorp (NYSE:CUBI) had its price objective raised by equities researchers at Hovde Group from $70.00 to $75.00 in a report released on Thursday, MarketBeat.com reports. The brokerage presently has a “market perform” rating on the bank’s stock. Hovde Group’s price objective would suggest a potential upside of 11.58% from the company’s current price.

A number of other analysts also recently weighed in on the stock. Wall Street Zen raised shares of Customers Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Cowen reaffirmed a “buy” rating on shares of Customers Bancorp in a research report on Monday. Keefe, Bruyette & Woods increased their price objective on shares of Customers Bancorp from $76.00 to $82.00 and gave the company a “market perform” rating in a research report on Monday, October 27th. Zacks Research downgraded shares of Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 26th. Finally, National Bankshares set a $89.00 price objective on shares of Customers Bancorp in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.78.

Customers Bancorp Stock Down 0.1%

NYSE:CUBI opened at $67.21 on Thursday. The firm’s 50-day moving average price is $67.03 and its 200-day moving average price is $60.32. The company has a market capitalization of $2.13 billion, a PE ratio of 13.63 and a beta of 1.55. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.98. Customers Bancorp has a 1-year low of $40.75 and a 1-year high of $72.51.

Customers Bancorp (NYSE:CUBI) last released its earnings results on Monday, September 8th. The bank reported $1.80 earnings per share for the quarter. The firm had revenue of $206.82 million for the quarter. Customers Bancorp had a net margin of 12.43% and a return on equity of 13.24%. On average, equities analysts predict that Customers Bancorp will post 6.45 EPS for the current fiscal year.

Hedge Funds Weigh In On Customers Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jones Financial Companies Lllp bought a new position in Customers Bancorp during the 1st quarter valued at about $37,000. Farther Finance Advisors LLC lifted its stake in Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after acquiring an additional 260 shares during the period. CX Institutional bought a new position in Customers Bancorp during the 3rd quarter valued at about $67,000. GAMMA Investing LLC lifted its stake in Customers Bancorp by 27.2% during the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank’s stock valued at $95,000 after acquiring an additional 403 shares during the period. Finally, Osaic Holdings Inc. lifted its stake in shares of Customers Bancorp by 24.8% in the 2nd quarter. Osaic Holdings Inc. now owns 2,121 shares of the bank’s stock worth $124,000 after purchasing an additional 421 shares during the period. 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.