Customers Bancorp (NYSE:CUBI) Trading 5% Higher on Analyst Upgrade

Customers Bancorp, Inc (NYSE:CUBI - Get Free Report) shares rose 5% on Monday after Keefe, Bruyette & Woods raised their price target on the stock from $70.00 to $71.00. Keefe, Bruyette & Woods currently has a market perform rating on the stock. Customers Bancorp traded as high as $64.72 and last traded at $64.75. Approximately 143,859 shares were traded during mid-day trading, a decline of 52% from the average daily volume of 297,861 shares. The stock had previously closed at $61.69.

Several other research firms also recently commented on CUBI. Wall Street Zen upgraded shares of Customers Bancorp from a "sell" rating to a "hold" rating in a research note on Friday, July 18th. B. Riley upped their price target on shares of Customers Bancorp from $81.00 to $82.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $65.44.

View Our Latest Analysis on Customers Bancorp

Hedge Funds Weigh In On Customers Bancorp

A number of institutional investors have recently added to or reduced their stakes in the stock. EP Wealth Advisors LLC increased its holdings in Customers Bancorp by 5.3% in the 1st quarter. EP Wealth Advisors LLC now owns 4,431 shares of the bank's stock worth $222,000 after purchasing an additional 223 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in Customers Bancorp by 4.6% in the 2nd quarter. Concurrent Investment Advisors LLC now owns 5,562 shares of the bank's stock valued at $327,000 after buying an additional 243 shares during the last quarter. Summit Investment Advisors Inc. raised its holdings in Customers Bancorp by 8.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,098 shares of the bank's stock valued at $151,000 after buying an additional 254 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Customers Bancorp by 3.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 7,422 shares of the bank's stock valued at $373,000 after buying an additional 270 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Customers Bancorp by 27.2% in the 1st quarter. GAMMA Investing LLC now owns 1,887 shares of the bank's stock valued at $95,000 after buying an additional 403 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Trading Up 4.8%

The business's fifty day moving average is $56.86 and its 200-day moving average is $53.17. The firm has a market cap of $2.04 billion, a P/E ratio of 16.00 and a beta of 1.55. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98.

Customers Bancorp (NYSE:CUBI - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The bank reported $1.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.30. The business had revenue of $206.31 million during the quarter, compared to analyst estimates of $170.81 million. Customers Bancorp had a net margin of 10.77% and a return on equity of 11.98%. The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter last year, the business earned $1.49 EPS. Analysts predict that Customers Bancorp, Inc will post 6.45 EPS for the current year.

Customers Bancorp Company Profile

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.

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