Customers Bancorp (NYSE:CUBI) Stock Price Up 7.7%

Customers Bancorp, Inc. (NYSE:CUBIGet Rating) shares rose 7.7% on Friday . The company traded as high as $31.26 and last traded at $31.12. Approximately 12,092 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 388,204 shares. The stock had previously closed at $28.90.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CUBI. DA Davidson restated a “buy” rating on shares of Customers Bancorp in a report on Wednesday, December 21st. StockNews.com began coverage on Customers Bancorp in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Stephens set a $45.00 price target on Customers Bancorp in a report on Wednesday, November 23rd. Wedbush reiterated an “outperform” rating and set a $45.00 price target on shares of Customers Bancorp in a report on Wednesday, September 28th. Finally, Hovde Group lowered their price target on Customers Bancorp to $44.00 in a report on Tuesday, November 1st. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Customers Bancorp presently has a consensus rating of “Moderate Buy” and an average price target of $59.50.

Customers Bancorp Stock Performance

The stock has a market capitalization of $1.01 billion, a P/E ratio of 3.63 and a beta of 1.60. The firm has a 50-day moving average of $29.73 and a 200 day moving average of $32.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.55.

Customers Bancorp (NYSE:CUBIGet Rating) last issued its earnings results on Wednesday, October 26th. The bank reported $2.48 EPS for the quarter, topping the consensus estimate of $2.23 by $0.25. The firm had revenue of $150.02 million during the quarter, compared to analysts’ expectations of $176.53 million. Customers Bancorp had a return on equity of 26.39% and a net margin of 34.42%. Research analysts anticipate that Customers Bancorp, Inc. will post 7.78 EPS for the current fiscal year.

Institutional Trading of Customers Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its position in Customers Bancorp by 4.6% in the first quarter. BlackRock Inc. now owns 4,837,269 shares of the bank’s stock worth $252,216,000 after purchasing an additional 214,065 shares during the period. State Street Corp boosted its holdings in Customers Bancorp by 56.3% during the first quarter. State Street Corp now owns 2,282,972 shares of the bank’s stock worth $119,034,000 after buying an additional 822,072 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Customers Bancorp by 3.0% during the third quarter. Vanguard Group Inc. now owns 2,075,046 shares of the bank’s stock worth $61,172,000 after buying an additional 61,350 shares during the last quarter. Basswood Capital Management L.L.C. boosted its holdings in Customers Bancorp by 25.1% during the second quarter. Basswood Capital Management L.L.C. now owns 1,055,123 shares of the bank’s stock worth $35,769,000 after buying an additional 211,732 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Customers Bancorp by 9.4% during the third quarter. Victory Capital Management Inc. now owns 972,372 shares of the bank’s stock worth $28,666,000 after buying an additional 83,267 shares during the last quarter. 84.33% of the stock is currently owned by institutional investors and hedge funds.

Customers Bancorp Company Profile

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Customers Bancorp, Inc operates as a bank holding company, which engages in the provision of banking services through its subsidiary, Customers Bank. It operates through the Customers Bank Business Banking and BankMobile segments. The Customers Bank Business Banking segment includes commercial customers in Southeastern Pennsylvania, New York, New Jersey, Massachusetts, Rhode Island, New Hampshire, Washington, DC, and Illinois through a single-point-of-contact business model and provides liquidity to residential mortgage originators nationwide through commercial loans to mortgage companies.

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