Bancorp Customers (NYSE: CUBI – Get a rating) was upgraded by equity researchers at DA Davidson from a “neutral” rating to a “buy” rating in a note released Friday to investors, Fly reports. The brokerage currently has a price target of $44.00 on the bank’s shares, up from its previous price target of $42.00. DA Davidson’s price target suggests a potential upside of 38.85% from the company’s current price.
A number of other stock analysts have also commented on CUBI. Jefferies Financial Group cut its price target on Customers Bancorp stock from $63.00 to $48.00 in a Monday, July 11 report. B. Riley cut his price target on Customers Bancorp stock from $90.00 to $85.00 in a Monday July 11 report. Wedbush reiterated an “outperform” rating and issued a $45.00 price target on Customers Bancorp stock in a Wednesday, September 28 report. Stephens cut his price target on Customers Bancorp stock from $54.00 to $52.00 and set an “equal weight” rating on the stock in a Tuesday, Aug. 2 report. To finish, StockNews.com began covering Customers Bancorp stock in a research note on Wednesday, October 12. They issued a “hold” rating on the stock. Three analysts gave the stock a hold rating and five gave the company a buy rating. According to data from MarketBeat, Customers Bancorp currently has an average rating of “Moderate Buy” and an average target price of $62.00.
Bancorp Stock customers down 2.1%
Shares of Bancorp Equity Clients opened at $31.69 on Friday. The company has a fifty-day moving average price of $32.83 and a 200-day moving average price of $36.75. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt ratio of 0.67. Bancorp Clients has a 12-month low of $29.21 and a 12-month high of $76.13. The stock has a market capitalization of $1.03 billion, a price-earnings ratio of 3.69 and a beta of 1.60.
Bancorp Customers (NYSE: CUBI – Get a rating) last announced its quarterly results on Wednesday, July 27. The bank reported earnings per share of $1.77 for the quarter, missing analyst consensus estimates of $1.80 per ($0.03). Clients Bancorp had a return on equity of 29.54% and a net margin of 38.56%. The company posted revenue of $177.60 million for the quarter, compared to $178.09 million expected by analysts. During the same period last year, the company posted earnings per share of $1.76. Equity research analysts expect Customers Bancorp to post earnings per share of 7.69 for the current fiscal year.
Institutional investors weigh on Bancorp customers
Several institutional investors and hedge funds have recently bought and sold shares of CUBI. State Street Corp increased its stake in Customers Bancorp by 56.3% during the first quarter. State Street Corp now owns 2,282,972 shares of the bank worth $119,034,000 after acquiring an additional 822,072 shares during the period. Victory Capital Management Inc. increased its stake in Customers Bancorp by 75.0% during the first quarter. Victory Capital Management Inc. now owns 998,379 shares of the bank worth $50,272,000 after acquiring an additional 427,959 shares during the period. Hood River Capital Management LLC acquired a new stake in Customers Bancorp during the first quarter valued at approximately $16,828,000. Thrivent Financial for Lutherans increased its stake in Customers Bancorp by 207.8% during the second quarter. Thrivent Financial for Lutherans now owns 436,927 shares of the bank worth $14,812,000 after acquiring an additional 294,967 shares during the period. Finally, BlackRock Inc. increased its stake in Customers Bancorp by 4.6% during the first quarter. BlackRock Inc. now owns 4,837,269 shares of the bank worth $252,216,000 after acquiring an additional 214,065 shares during the period. Institutional investors and hedge funds own 86.12% of the company’s shares.
About Bancorp Customers
Customers Bancorp, Inc operates as a banking holding company for Customers Bank which provides financial products and services to individuals and small and medium businesses. The Company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers lending products, including commercial warehouse mortgages, multifamily and commercial real estate loans, business banking, small business loans, equipment financing, residential mortgages and installment loans.
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