Customers Bancorp Inc. (CUBI) Downgraded by Zacks Investment Research to Sell
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. “
Other analysts have also issued reports about the stock. FBR & Co set a $32.00 price objective on shares of Customers Bancorp and gave the stock a buy rating in a research report on Thursday, July 21st. Keefe, Bruyette & Woods reduced their target price on shares of Customers Bancorp from $31.00 to $29.00 and set a market perform rating on the stock in a research report on Tuesday, September 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $31.10.
Customers Bancorp (NYSE:CUBI) traded up 0.69% during mid-day trading on Thursday, reaching $24.72. The company’s stock had a trading volume of 10,424 shares. Customers Bancorp has a one year low of $21.66 and a one year high of $31.63. The firm’s 50 day moving average is $25.60 and its 200-day moving average is $25.56. The stock has a market cap of $674.66 million, a P/E ratio of 10.99 and a beta of 0.61.
Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.60 earnings per share for the quarter, hitting the Zacks’ 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 company posted $0.52 EPS. Equities analysts expect that Customers Bancorp will post $2.40 earnings per share for the current fiscal year.
Several large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of Customers Bancorp by 620.3% in the first quarter. Royal Bank of Canada now owns 4,725 shares of the company’s stock valued at $111,000 after buying an additional 4,069 shares during the period. Mason Street Advisors LLC acquired a new position in shares of Customers Bancorp during the second quarter valued at about $124,000. BlackRock Inc. boosted its position in shares of Customers Bancorp by 167.1% in the second quarter. BlackRock Inc. now owns 5,040 shares of the company’s stock valued at $127,000 after buying an additional 3,153 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Customers Bancorp by 555.6% in the third quarter. Nisa Investment Advisors LLC now owns 5,900 shares of the company’s stock valued at $148,000 after buying an additional 5,000 shares during the period. Finally, Creative Planning boosted its position in shares of Customers Bancorp by 36.3% in the third quarter. Creative Planning now owns 6,054 shares of the company’s stock valued at $152,000 after buying an additional 1,612 shares during the period. Institutional investors and hedge funds own 84.77% of the company’s stock.
Customers Bancorp Company Profile
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Customers Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Customers Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.