Customers Bancorp, Inc (CUBI) Given “Buy” Rating at Maxim Group

Maxim Group reaffirmed their buy rating on shares of Customers Bancorp, Inc (NYSE:CUBI) in a research report sent to investors on Wednesday. Maxim Group currently has a $50.00 target price on the bank’s stock.

A number of other equities analysts have also weighed in on CUBI. BidaskClub upgraded shares of Customers Bancorp from a sell rating to a hold rating in a report on Wednesday, August 2nd. Boenning Scattergood lowered shares of Customers Bancorp from an outperform rating to a neutral rating in a report on Friday, October 20th. Zacks Investment Research lowered shares of Customers Bancorp from a buy rating to a hold rating in a report on Tuesday, September 26th. Finally, TheStreet lowered shares of Customers Bancorp from a b rating to a c+ rating in a report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $40.50.

Shares of Customers Bancorp (NYSE CUBI) traded up $0.06 during midday trading on Wednesday, reaching $26.89. 216,000 shares of the company were exchanged, compared to its average volume of 209,447. Customers Bancorp has a 1 year low of $24.75 and a 1 year high of $36.93. The firm has a market capitalization of $828.38, a price-to-earnings ratio of 9.40 and a beta of 0.63. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.91 and a current ratio of 1.17.

Customers Bancorp (NYSE:CUBI) last announced its earnings results on Wednesday, October 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $86.05 million for the quarter, compared to analyst estimates of $80.32 million. During the same quarter last year, the business posted $0.64 EPS. analysts anticipate that Customers Bancorp will post 2.47 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in shares of Customers Bancorp by 2.8% in the 2nd quarter. BlackRock Inc. now owns 3,584,410 shares of the bank’s stock valued at $101,365,000 after purchasing an additional 97,085 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Customers Bancorp by 8.1% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,137,437 shares of the bank’s stock valued at $69,723,000 after purchasing an additional 159,979 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Customers Bancorp by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 1,502,298 shares of the bank’s stock valued at $42,485,000 after purchasing an additional 50,545 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Customers Bancorp by 3.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,407,426 shares of the bank’s stock valued at $45,913,000 after purchasing an additional 46,459 shares during the last quarter. Finally, State Street Corp boosted its holdings in shares of Customers Bancorp by 7.6% in the 2nd quarter. State Street Corp now owns 1,114,816 shares of the bank’s stock valued at $31,530,000 after purchasing an additional 78,363 shares during the last quarter. Institutional investors own 89.16% 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).

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