Customers Bancorp (NYSE:CUBI) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Customers Bancorp (NYSE:CUBI) had its price target raised by analysts at Morgan Stanley from $90.00 to $92.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the bank’s stock. Morgan Stanley’s price target would suggest a potential upside of 31.64% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on CUBI. Stephens downgraded Customers Bancorp from an “equal weight” rating to an “underweight” rating and set a $71.00 target price on the stock. in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Customers Bancorp in a report on Monday, December 29th. B. Riley Financial restated a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. Maxim Group set a $100.00 target price on Customers Bancorp in a research report on Monday, January 26th. Finally, Wall Street Zen lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a report on Sunday, January 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.00.

Customers Bancorp Stock Up 1.2%

Shares of CUBI stock opened at $69.89 on Monday. Customers Bancorp has a 12 month low of $40.75 and a 12 month high of $82.56. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2.39 billion, a PE ratio of 11.27 and a beta of 1.66. The stock has a 50 day moving average of $75.23 and a 200-day moving average of $70.59.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.04 by $0.02. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. The business had revenue of $236.90 million for the quarter, compared to analyst estimates of $200.38 million. During the same quarter in the previous year, the firm posted $1.36 earnings per share. On average, equities analysts predict that Customers Bancorp will post 6.45 EPS for the current year.

Customers Bancorp announced that its board has authorized a stock buyback program on Wednesday, February 11th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the bank to buy up to 4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CUBI. Arax Advisory Partners increased its holdings in shares of Customers Bancorp by 218.9% during the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock worth $26,000 after buying an additional 243 shares in the last quarter. Caitong International Asset Management Co. Ltd bought a new stake in Customers Bancorp during the 3rd quarter worth approximately $29,000. Jones Financial Companies Lllp bought a new stake in Customers Bancorp during the 1st quarter worth approximately $37,000. Transamerica Financial Advisors LLC increased its holdings in Customers Bancorp by 216.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after purchasing an additional 404 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in Customers Bancorp by 63.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after purchasing an additional 260 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

About Customers Bancorp

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.