Customers Bancorp (NYSE:CUBI) Upgraded to “Hold” at Wall Street Zen

Wall Street Zen upgraded shares of Customers Bancorp (NYSE:CUBI) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

Other research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods dropped their target price on shares of Customers Bancorp from $67.00 to $65.00 and set a “market perform” rating on the stock in a report on Monday, April 28th. B. Riley increased their price objective on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, May 16th. Six investment analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Customers Bancorp Stock Up 3.2%

Shares of NYSE CUBI opened at $52.33 on Friday. Customers Bancorp has a 52-week low of $40.75 and a 52-week high of $68.49. The firm has a market capitalization of $1.65 billion, a price-to-earnings ratio of 10.30 and a beta of 1.51. The stock has a 50 day moving average price of $49.33 and a 200 day moving average price of $51.39. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.95 and a current ratio of 0.96.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Thursday, April 24th. The bank reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.26. Customers Bancorp had a return on equity of 12.29% and a net margin of 13.07%. The business had revenue of $194.28 million during the quarter, compared to analyst estimates of $165.24 million. During the same period in the previous year, the company posted $1.68 EPS. Sell-side analysts expect that Customers Bancorp will post 6.45 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CUBI. Picton Mahoney Asset Management lifted its position in Customers Bancorp by 47.7% during the fourth quarter. Picton Mahoney Asset Management now owns 585 shares of the bank’s stock valued at $28,000 after acquiring an additional 189 shares during the last quarter. Jones Financial Companies Lllp acquired a new position in shares of Customers Bancorp during the first quarter worth $37,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Customers Bancorp during the fourth quarter worth $46,000. KBC Group NV lifted its holdings in shares of Customers Bancorp by 82.8% during the 4th quarter. KBC Group NV now owns 1,495 shares of the bank’s stock valued at $73,000 after purchasing an additional 677 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Customers Bancorp by 323.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,643 shares of the bank’s stock valued at $80,000 after purchasing an additional 1,255 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

About Customers Bancorp

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.