According to Zacks, “Customers Bancorp is a bank holding company of Customers Bank, a state-chartered bank in Pennsylvania. It provides banking services to small and medium-sized businesses, professionals, individuals and families. The company offers depository products, commercial lending products, specialty lending products and consumer lending. In addition, the company offers other financial services, including Internet banking, wire transfers, electronic bill payment, lock box, remote deposit capture, courier services, merchant processing, cash vault, controlled disbursements, and positive pay services, as well as cash management services comprising account reconciliation, collections, and sweep accounts. The bank has its branches in Pennsylvania, New York and New Jersey. Customers Bancorp is headquartered in Wyomissing, Pennsylvania. “
Several other research analysts have also commented on CUBI. FBR & Co set a $32.00 price target on shares of Customers Bancorp and gave the company a buy rating in a report on Thursday, July 21st. Keefe, Bruyette & Woods decreased their price target on shares of Customers Bancorp from $31.00 to $29.00 and set a market perform rating for the company in a report on Tuesday, September 20th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $31.10.
Shares of Customers Bancorp (NYSE:CUBI) opened at 25.03 on Thursday. The firm has a market capitalization of $683.12 million, a price-to-earnings ratio of 11.13 and a beta of 0.61. The stock has a 50 day moving average of $25.50 and a 200 day moving average of $25.60. Customers Bancorp has a 52-week low of $21.66 and a 52-week high of $31.63.
Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.60 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.60. Customers Bancorp had a net margin of 22.25% and a return on equity of 13.73%. During the same period last year, the firm posted $0.52 earnings per share. On average, analysts predict that Customers Bancorp will post $2.40 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of CUBI. Royal Bank of Canada increased its stake in Customers Bancorp by 620.3% in the first quarter. Royal Bank of Canada now owns 4,725 shares of the company’s stock worth $111,000 after buying an additional 4,069 shares during the period. Mason Street Advisors LLC bought a new stake in Customers Bancorp during the second quarter worth approximately $124,000. BlackRock Inc. increased its stake in Customers Bancorp by 167.1% in the second quarter. BlackRock Inc. now owns 5,040 shares of the company’s stock worth $127,000 after buying an additional 3,153 shares during the period. Nisa Investment Advisors LLC increased its stake in Customers Bancorp by 555.6% in the third quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the company’s stock worth $148,000 after buying an additional 5,000 shares during the period. Finally, Creative Planning increased its stake in Customers Bancorp by 36.3% in the third quarter. Creative Planning now owns 6,054 shares of the company’s stock worth $152,000 after buying an additional 1,612 shares during the period. Hedge funds and other institutional investors own 84.74% of the company’s stock.
About Customers Bancorp
Customers Bancorp, Inc (Customers Bancorp) is a bank holding company engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Company operates in the community banking segment. The Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers.
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