ValuEngine upgraded shares of Customers Bancorp (NYSE:CUBI) from a hold rating to a buy rating in a research report released on Friday.

A number of other equities research analysts also recently issued reports on CUBI. BidaskClub downgraded shares of Customers Bancorp from a hold rating to a sell rating in a research report on Thursday, August 10th. Maxim Group reaffirmed a buy rating and issued a $50.00 price objective on shares of Customers Bancorp in a research report on Wednesday, November 22nd. Zacks Investment Research downgraded shares of Customers Bancorp from a buy rating to a hold rating in a research report on Tuesday, September 26th. Finally, Boenning Scattergood downgraded shares of Customers Bancorp from an outperform rating to a neutral rating in a research report on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $40.50.

Shares of Customers Bancorp (NYSE CUBI) traded down $0.03 during mid-day trading on Friday, reaching $27.07. 261,901 shares of the company’s stock were exchanged, compared to its average volume of 260,409. Customers Bancorp has a twelve month low of $24.75 and a twelve month high of $36.93. 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 company has a market cap of $834.85, a P/E ratio of 9.48 and a beta of 0.62.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $86.05 million during the quarter, compared to the consensus estimate of $80.32 million. During the same period in the previous year, the company posted $0.64 earnings per share. research analysts predict that Customers Bancorp will post 2.47 earnings per share for the current fiscal year.

In other news, COO Richard A. Ehst sold 9,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $26.70, for a total transaction of $240,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert E. Wahlman sold 50,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $26.66, for a total transaction of $1,333,000.00. The disclosure for this sale can be found here. 8.67% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Flinton Capital Management LLC grew its position in shares of Customers Bancorp by 176.7% during the 2nd quarter. Flinton Capital Management LLC now owns 4,046 shares of the bank’s stock valued at $114,000 after acquiring an additional 2,584 shares during the period. SG Americas Securities LLC purchased a new stake in Customers Bancorp in the 2nd quarter worth approximately $123,000. Nisa Investment Advisors LLC lifted its stake in Customers Bancorp by 8.7% in 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 in the last quarter. State of Alaska Department of Revenue lifted its stake in Customers Bancorp by 80.2% in 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 in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in Customers Bancorp in the 3rd quarter worth approximately $205,000. 87.98% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This article was posted by Daily Political and is owned by of Daily Political. If you are viewing this article on another website, it was illegally stolen and republished in violation of United States and international copyright & trademark law. The correct version of this article can be read at https://www.dailypolitical.com/2017/12/02/customers-bancorp-cubi-upgraded-by-valuengine-to-buy.html.

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 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.