Customers Bancorp, Inc (CUBI) Sets New 1-Year Low at $25.06
Customers Bancorp, Inc (NYSE:CUBI) hit a new 52-week low on Thursday . The company traded as low as $25.06 and last traded at $25.20, with a volume of 175755 shares changing hands. The stock had previously closed at $25.52.
A number of brokerages have recently weighed in on CUBI. Maxim Group restated a “buy” rating and issued a $50.00 price objective on shares of Customers Bancorp in a report on Thursday, October 26th. BidaskClub upgraded shares of Customers Bancorp from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Boenning Scattergood lowered shares of Customers Bancorp from an “outperform” rating to a “neutral” rating in a report on Friday, October 20th. Zacks Investment Research lowered shares of Customers Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Finally, TheStreet lowered shares of Customers Bancorp from a “b” rating to a “c+” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Customers Bancorp presently has a consensus rating of “Hold” and an average price target of $40.50.
The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 2.27. The stock has a market cap of $776.01, a P/E ratio of 8.81 and a beta of 0.63.
Customers Bancorp (NYSE:CUBI) last announced its quarterly earnings results on Wednesday, October 25th. The bank reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by ($0.09). Customers Bancorp had a return on equity of 15.38% and a net margin of 19.75%. The company had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. research analysts expect that Customers Bancorp, Inc will post 2.47 earnings per share for the current fiscal year.
Institutional investors have recently modified their holdings of the business. Flinton Capital Management LLC grew its position in Customers Bancorp by 176.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock worth $114,000 after purchasing an additional 2,584 shares during the last quarter. SG Americas Securities LLC purchased a new position in Customers Bancorp during the 2nd quarter worth $123,000. Nisa Investment Advisors LLC grew its position in Customers Bancorp by 8.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 5,600 shares of the bank’s stock worth $158,000 after purchasing an additional 450 shares during the last quarter. State of Alaska Department of Revenue grew its position in Customers Bancorp by 80.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,657 shares of the bank’s stock worth $159,000 after purchasing an additional 2,517 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Customers Bancorp during the 2nd quarter worth $205,000. 87.22% of the stock is currently owned by institutional investors.
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 Bank provides financial products and services to small and middle market businesses, not-for-profits, and consumers through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County).
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.