Customers Bancorp (NYSE:CUBI) Upgraded to Equal Weight at Stephens

Stephens upgraded shares of Customers Bancorp (NYSE:CUBI) from an underweight rating to an equal weight rating in a research report sent to investors on Monday, Marketbeat reports. The brokerage currently has $71.00 price objective on the bank’s stock.

Several other research analysts also recently commented on CUBI. DA Davidson boosted their target price on Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a report on Monday, January 26th. Raymond James Financial reaffirmed a “strong-buy” rating and set a $95.00 price target on shares of Customers Bancorp in a report on Tuesday, January 6th. JPMorgan Chase & Co. initiated coverage on Customers Bancorp in a research report on Friday, March 6th. They issued an “overweight” rating and a $90.00 price objective for the company. B. Riley Financial reissued a “buy” rating on shares of Customers Bancorp in a research note on Monday, January 26th. Finally, Maxim Group set a $100.00 target price on Customers Bancorp in a report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $87.67.

Customers Bancorp Trading Up 2.6%

Shares of CUBI stock opened at $66.37 on Monday. Customers Bancorp has a 12-month low of $40.75 and a 12-month high of $82.56. The company has a market capitalization of $2.27 billion, a P/E ratio of 10.71 and a beta of 1.66. The firm has a 50-day moving average price of $73.84 and a 200 day moving average price of $70.52. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, topping the consensus estimate of $2.04 by $0.02. The firm had revenue of $236.90 million for the quarter, compared to analysts’ expectations of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same period in the prior year, the firm earned $1.36 earnings per share. Research analysts forecast that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 11th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the bank to buy up to 4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CUBI. Access Investment Management LLC lifted its stake in shares of Customers Bancorp by 15.7% during the third quarter. Access Investment Management LLC now owns 132,415 shares of the bank’s stock valued at $8,656,000 after acquiring an additional 18,000 shares during the period. Assenagon Asset Management S.A. increased its position in Customers Bancorp by 29.0% in the third quarter. Assenagon Asset Management S.A. now owns 290,919 shares of the bank’s stock worth $19,017,000 after purchasing an additional 65,382 shares during the period. Principal Financial Group Inc. increased its position in Customers Bancorp by 23.4% in the third quarter. Principal Financial Group Inc. now owns 179,762 shares of the bank’s stock worth $11,751,000 after purchasing an additional 34,081 shares during the period. EJF Capital LLC bought a new stake in Customers Bancorp during the 3rd quarter worth about $1,711,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in Customers Bancorp by 7.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 398,723 shares of the bank’s stock worth $25,718,000 after purchasing an additional 28,928 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.