Keefe, Bruyette & Woods Reaffirms “Hold” Rating for Customers Bancorp, Inc (NYSE:CUBI)

Keefe, Bruyette & Woods restated their hold rating on shares of Customers Bancorp, Inc (NYSE:CUBI) in a research note published on Friday, June 30th. They currently have a $36.00 price target on the bank’s stock.

A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research downgraded Customers Bancorp from a buy rating to a hold rating in a report on Tuesday, June 27th. Maxim Group reissued a buy rating and set a $50.00 price objective on shares of Customers Bancorp in a report on Thursday, April 27th. Finally, TheStreet raised Customers Bancorp from a c+ rating to a b rating in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of $39.50.

Customers Bancorp (NYSE CUBI) traded up 0.28% during trading on Friday, reaching $28.76. The company’s stock had a trading volume of 175,879 shares. Customers Bancorp has a 1-year low of $24.37 and a 1-year high of $36.93. The company’s 50 day moving average price is $28.52 and its 200-day moving average price is $31.16. The stock has a market cap of $881.09 million, a P/E ratio of 11.94 and a beta of 0.63.

Customers Bancorp (NYSE:CUBI) last issued its earnings results on Wednesday, July 26th. The bank reported $0.78 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.16. The firm had revenue of $68.62 million for the quarter, compared to the consensus estimate of $67.14 million. Customers Bancorp had a return on equity of 15.32% and a net margin of 22.34%. The company’s revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. Equities analysts forecast that Customers Bancorp will post $2.58 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in CUBI. Texas Permanent School Fund increased its stake in Customers Bancorp by 2.0% in the second quarter. Texas Permanent School Fund now owns 21,025 shares of the bank’s stock valued at $595,000 after buying an additional 410 shares during the period. Great West Life Assurance Co. Can increased its stake in Customers Bancorp by 4.3% in the second quarter. Great West Life Assurance Co. Can now owns 40,844 shares of the bank’s stock valued at $1,155,000 after buying an additional 1,675 shares during the period. Bowling Portfolio Management LLC purchased a new stake in Customers Bancorp during the second quarter valued at $638,000. Boston Advisors LLC increased its stake in Customers Bancorp by 7.2% in the second quarter. Boston Advisors LLC now owns 220,990 shares of the bank’s stock valued at $6,250,000 after buying an additional 14,795 shares during the period. Finally, Peregrine Capital Management LLC increased its stake in Customers Bancorp by 2.0% in the second quarter. Peregrine Capital Management LLC now owns 257,255 shares of the bank’s stock valued at $7,275,000 after buying an additional 5,142 shares during the period. 88.90% of the stock is currently owned by institutional investors.

Customers Bancorp Company Profile

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).

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