Jefferies Financial Group Trims Customers Bancorp (NYSE:CUBI) Target Price to $57.00

Customers Bancorp (NYSE:CUBI) had its price target trimmed by Jefferies Financial Group from $59.00 to $57.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the bank’s stock.

A number of other equities research analysts have also recently commented on CUBI. Wedbush cut their target price on Customers Bancorp from $63.00 to $61.00 and set an outperform rating on the stock in a research note on Friday, April 26th. Hovde Group cut their target price on Customers Bancorp from $66.00 to $63.00 and set an outperform rating on the stock in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $60.63.

Customers Bancorp Price Performance

Shares of CUBI stock opened at $48.39 on Wednesday. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 6.76 and a beta of 1.65. The business’s fifty day moving average is $46.36 and its 200 day moving average is $50.41. Customers Bancorp has a twelve month low of $29.99 and a twelve month high of $60.09. The company has a quick ratio of 0.91, a current ratio of 0.93 and a debt-to-equity ratio of 0.89.

Customers Bancorp (NYSE:CUBI) last issued its quarterly earnings results on Friday, April 26th. The bank reported $1.68 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.05. The company had revenue of $181.62 million for the quarter, compared to analysts’ expectations of $183.48 million. Customers Bancorp had a return on equity of 18.17% and a net margin of 16.88%. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.58 earnings per share. Research analysts expect that Customers Bancorp will post 6.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC bought a new position in shares of Customers Bancorp during the fourth quarter valued at $78,000. Federated Hermes Inc. lifted its holdings in Customers Bancorp by 29,550.0% in the third quarter. Federated Hermes Inc. now owns 3,558 shares of the bank’s stock valued at $123,000 after acquiring an additional 3,546 shares during the period. Aigen Investment Management LP bought a new position in Customers Bancorp in the fourth quarter valued at about $209,000. Coldstream Capital Management Inc. bought a new position in Customers Bancorp in the fourth quarter valued at about $218,000. Finally, Cookson Peirce & Co. Inc. bought a new position in Customers Bancorp in the fourth quarter valued at about $234,000. 89.29% of the stock is owned by institutional investors.

About Customers Bancorp

Customers Bancorp, Inc operates as the bank holding company for Customers Bank that provides financial products and services to individual consumers, and small and middle market businesses. The company provides deposit banking products, which includes commercial and consumer checking, non-interest-bearing and interest-bearing demand, MMDA, savings, and time deposit accounts.