Customers Bancorp (CUBI) Coverage Initiated by Analysts at B. Riley
B. Riley began coverage on shares of Customers Bancorp (NYSE:CUBI) in a research report report published on Friday morning. The brokerage issued a buy rating and a $35.00 price objective on the bank’s stock.
Other equities research analysts also recently issued reports about the company. Maxim Group reissued a buy rating and issued a $50.00 target price on shares of Customers Bancorp in a report on Friday, October 20th. BidaskClub raised Customers Bancorp from a hold rating to a buy rating in a report on Friday, September 29th. ValuEngine raised Customers Bancorp from a hold rating to a buy rating in a report on Friday, December 1st. TheStreet downgraded Customers Bancorp from a b rating to a c+ rating in a report on Wednesday, November 8th. Finally, Zacks Investment Research downgraded Customers Bancorp from a buy rating to a hold rating in a report on Monday, October 30th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $39.25.
Customers Bancorp (CUBI) traded up $0.18 during trading on Friday, reaching $26.92. The company’s stock had a trading volume of 150,909 shares, compared to its average volume of 234,625. The company has a quick ratio of 0.91, a current ratio of 1.17 and a debt-to-equity ratio of 2.27. Customers Bancorp has a twelve month low of $24.75 and a twelve month high of $36.93. The company has a market capitalization of $823.76, a P/E ratio of 9.35 and a beta of 0.61.
Customers Bancorp (NYSE:CUBI) last released its 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 during the quarter, compared to the consensus estimate of $80.32 million. During the same period last year, the firm posted $0.64 earnings per share. equities analysts expect that Customers Bancorp will post 2.47 EPS for the current fiscal year.
In other news, Director Rick Burkey sold 1,129 shares of the business’s stock in a transaction on Friday, December 8th. The stock was sold at an average price of $26.74, for a total value of $30,189.46. Following the completion of the transaction, the director now owns 40,919 shares in the company, valued at $1,094,174.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Richard A. Ehst sold 9,000 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $26.70, for a total value of $240,300.00. The disclosure for this sale can be found here. Insiders sold 60,129 shares of company stock valued at $1,603,489 in the last 90 days. Company insiders own 8.67% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its position in Customers Bancorp by 3.0% during the second quarter. Northern Trust Corp now owns 349,766 shares of the bank’s stock valued at $9,891,000 after acquiring an additional 10,292 shares during the last quarter. LSV Asset Management increased its position in Customers Bancorp by 42.5% during the second quarter. LSV Asset Management now owns 268,108 shares of the bank’s stock valued at $7,582,000 after acquiring an additional 79,900 shares during the last quarter. Prudential Financial Inc. increased its position in Customers Bancorp by 22.7% during the second quarter. Prudential Financial Inc. now owns 447,430 shares of the bank’s stock valued at $12,653,000 after acquiring an additional 82,680 shares during the last quarter. Mutual of America Capital Management LLC increased its position in Customers Bancorp by 2.7% during the third quarter. Mutual of America Capital Management LLC now owns 193,744 shares of the bank’s stock valued at $6,320,000 after acquiring an additional 5,185 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in Customers Bancorp by 3.4% during the third quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock valued at $45,913,000 after acquiring an additional 46,459 shares during the last quarter. Hedge funds and other institutional investors own 87.86% 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 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.