Customers Bancorp (NYSE:CUBI) Raised to Equal Weight at Stephens

Customers Bancorp (NYSE:CUBI) was upgraded by Stephens from an “underweight” rating to an “equal weight” rating in a note issued to investors on Monday. The firm currently has a $71.00 price objective on the bank’s stock. Stephens’ price objective would suggest a potential upside of 9.77% from the company’s previous close.

CUBI has been the topic of a number of other research reports. B. Riley Financial restated a “buy” rating on shares of Customers Bancorp in a research report on Monday, January 26th. Weiss Ratings upgraded shares of Customers Bancorp from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. Zacks Research cut Customers Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Maxim Group set a $100.00 price objective on Customers Bancorp in a report on Monday, January 26th. Finally, DA Davidson boosted their price objective on Customers Bancorp from $93.00 to $95.00 and gave the stock a “buy” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $87.67.

Customers Bancorp Stock Down 2.7%

Shares of NYSE CUBI opened at $64.68 on Monday. The company has a market cap of $2.21 billion, a price-to-earnings ratio of 10.43 and a beta of 1.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.76. Customers Bancorp has a 12 month low of $40.75 and a 12 month high of $82.56. The stock has a 50-day moving average price of $74.03 and a two-hundred day moving average price of $70.56.

Customers Bancorp (NYSE:CUBI) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $2.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.04 by $0.02. The company had revenue of $236.90 million for the quarter, compared to the consensus estimate of $200.38 million. Customers Bancorp had a net margin of 15.15% and a return on equity of 14.05%. During the same period last year, the company posted $1.36 EPS. As a group, analysts forecast that Customers Bancorp will post 6.45 earnings per share for the current fiscal year.

Customers Bancorp declared that its Board of Directors has approved a share repurchase program on Wednesday, February 11th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the bank to reacquire up to 4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Customers Bancorp

A number of institutional investors have recently made changes to their positions in the stock. Arax Advisory Partners increased its stake in shares of Customers Bancorp by 218.9% in the fourth quarter. Arax Advisory Partners now owns 354 shares of the bank’s stock valued at $26,000 after buying an additional 243 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of Customers Bancorp in the third quarter worth approximately $29,000. Transamerica Financial Advisors LLC boosted its holdings in Customers Bancorp by 216.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 591 shares of the bank’s stock valued at $43,000 after acquiring an additional 404 shares during the last quarter. Farther Finance Advisors LLC increased its position in Customers Bancorp by 63.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 672 shares of the bank’s stock valued at $44,000 after purchasing an additional 260 shares during the period. Finally, Jones Financial Companies Lllp acquired a new stake in Customers Bancorp during the 1st quarter valued at approximately $37,000. Institutional investors own 89.29% of the company’s stock.

Customers Bancorp Company Profile

Customers Bancorp, Inc (NYSE: CUBI) is a bank holding company headquartered in Phoenixville, Pennsylvania, and the parent of Customers Bank, a federally chartered institution. The company offers a full suite of commercial and consumer banking services, combining traditional deposit and lending products with modern digital banking platforms. As a publicly traded entity, Customers Bancorp focuses on delivering tailored financial solutions to mid‐market companies, small businesses, professionals and individuals across the United States.

Through its commercial banking division, the company provides term loans, lines of credit, real estate financing, asset‐based lending and treasury management services.