Customers Bancorp (NYSE:CUBI) had its price objective reduced by equities research analysts at Maxim Group to $38.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the bank’s stock. Maxim Group’s target price indicates a potential upside of 77.65% from the company’s current price. The analysts noted that the move was a valuation call.
Several other equities analysts have also issued reports on CUBI. Zacks Investment Research upgraded shares of Customers Bancorp from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a report on Tuesday, July 3rd. ValuEngine lowered shares of Customers Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, July 26th. Sandler O’Neill set a $27.00 target price on shares of Customers Bancorp and gave the company a “hold” rating in a report on Monday, September 24th. Finally, Boenning Scattergood restated a “hold” rating on shares of Customers Bancorp in a report on Wednesday, October 17th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $32.33.
Shares of Customers Bancorp stock opened at $21.39 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 0.91 and a debt-to-equity ratio of 1.28. Customers Bancorp has a twelve month low of $18.57 and a twelve month high of $32.34. The firm has a market capitalization of $667.60 million, a P/E ratio of 9.72, a price-to-earnings-growth ratio of 0.93 and a beta of 0.72.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Adams Diversified Equity Fund Inc. raised its holdings in shares of Customers Bancorp by 36.2% in the 3rd quarter. Adams Diversified Equity Fund Inc. now owns 28,600 shares of the bank’s stock worth $673,000 after acquiring an additional 7,600 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Customers Bancorp by 25.5% in the 3rd quarter. First Trust Advisors LP now owns 62,161 shares of the bank’s stock worth $1,463,000 after acquiring an additional 12,627 shares during the last quarter. Strs Ohio raised its holdings in shares of Customers Bancorp by 12.6% in the 3rd quarter. Strs Ohio now owns 33,900 shares of the bank’s stock worth $797,000 after acquiring an additional 3,800 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Customers Bancorp by 30.5% in the 3rd quarter. Bank of Montreal Can now owns 130,075 shares of the bank’s stock worth $3,062,000 after acquiring an additional 30,429 shares during the last quarter. Finally, United Services Automobile Association raised its holdings in shares of Customers Bancorp by 64.6% in the 2nd quarter. United Services Automobile Association now owns 94,565 shares of the bank’s stock worth $2,684,000 after acquiring an additional 37,100 shares during the last quarter. Hedge funds and other institutional investors own 81.78% of the company’s stock.
About Customers Bancorp
Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to small and middle market businesses, not-for-profits, and consumers. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, individual retirement, and non-retail time deposit accounts, as well as certificates of deposit.
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