Customers Bancorp (NYSE:CUBI)‘s stock had its “buy” rating reiterated by stock analysts at Maxim Group in a research note issued to investors on Friday, Stock Target Advisor reports. They currently have a $27.00 price target on the bank’s stock. Maxim Group’s target price indicates a potential upside of 127.85% from the stock’s current price.
CUBI has been the topic of several other research reports. ValuEngine upgraded shares of Customers Bancorp from a “strong sell” rating to a “sell” rating in a research report on Thursday, July 2nd. Zacks Investment Research cut shares of Customers Bancorp from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the company. Customers Bancorp currently has a consensus rating of “Hold” and an average target price of $17.67.
Shares of Customers Bancorp stock traded down $0.12 on Friday, hitting $11.85. 263,942 shares of the company traded hands, compared to its average volume of 197,299. The stock has a market capitalization of $373.17 million, a P/E ratio of 5.11 and a beta of 1.48. The company has a debt-to-equity ratio of 1.30, a quick ratio of 1.06 and a current ratio of 1.42. Customers Bancorp has a 52 week low of $8.36 and a 52 week high of $25.72. The business has a 50-day simple moving average of $11.32 and a 200 day simple moving average of $14.35.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Sowell Financial Services LLC bought a new stake in Customers Bancorp in the first quarter worth $52,000. Royal Bank of Canada increased its position in Customers Bancorp by 469.8% in the first quarter. Royal Bank of Canada now owns 11,072 shares of the bank’s stock worth $121,000 after purchasing an additional 9,129 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in Customers Bancorp by 78.8% in the first quarter. BNP Paribas Arbitrage SA now owns 11,420 shares of the bank’s stock worth $125,000 after purchasing an additional 5,033 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Customers Bancorp during the second quarter worth $132,000. Finally, GSA Capital Partners LLP purchased a new position in Customers Bancorp during the first quarter worth $154,000. Institutional investors own 80.40% of the company’s stock.
Customers Bancorp Company Profile
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 operates in two segments, Customers Bank Business Banking and BankMobile. The company accepts various deposit products, such as checking, savings, money market deposit, time deposit, and individual retirement accounts, as well as certificates of deposit.
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