Customers Bancorp (NYSE:CUBI – Get Free Report) had its price target decreased by stock analysts at Jefferies Financial Group from $59.00 to $57.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the bank’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 16.40% from the stock’s previous close.
CUBI has been the topic of several other reports. Wedbush lowered their target price on shares of Customers Bancorp from $63.00 to $61.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Hovde Group lowered their target price on shares of Customers Bancorp from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Customers Bancorp currently has a consensus rating of “Moderate Buy” and an average target price of $60.63.
View Our Latest Stock Analysis on Customers Bancorp
Customers Bancorp Price Performance
Customers Bancorp (NYSE:CUBI – Get Free Report) last announced its quarterly earnings data on Friday, April 26th. The bank reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.05. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The company had revenue of $181.62 million during the quarter, compared to the consensus estimate of $183.48 million. During the same quarter in the prior year, the firm earned $1.58 EPS. The company’s quarterly revenue was up 8.1% compared to the same quarter last year. As a group, analysts anticipate that Customers Bancorp will post 6.35 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Customers Bancorp
Hedge funds have recently bought and sold shares of the company. SummerHaven Investment Management LLC lifted its stake in shares of Customers Bancorp by 1.0% in the fourth quarter. SummerHaven Investment Management LLC now owns 20,202 shares of the bank’s stock valued at $1,164,000 after buying an additional 205 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of Customers Bancorp by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 24,765 shares of the bank’s stock valued at $1,314,000 after buying an additional 353 shares during the period. ProShare Advisors LLC lifted its stake in Customers Bancorp by 7.4% during the first quarter. ProShare Advisors LLC now owns 5,763 shares of the bank’s stock worth $306,000 after purchasing an additional 398 shares during the period. Illinois Municipal Retirement Fund lifted its stake in Customers Bancorp by 4.8% during the first quarter. Illinois Municipal Retirement Fund now owns 16,066 shares of the bank’s stock worth $852,000 after purchasing an additional 738 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in Customers Bancorp by 8.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,576 shares of the bank’s stock worth $721,000 after purchasing an additional 1,030 shares during the period. 89.29% of the stock is currently owned by institutional investors.
About Customers Bancorp
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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