Bancorp, Inc. (NYSE: CUBI) Receives Average Analyst Rating of “Moderate Buy”
Bancorp, Inc. Client Stocks (NYSE: CUBI – Get a rating) received an average recommendation of “Hold” from the nine research firms that currently cover the company, reports Marketbeat Ratings. Four analysts gave the stock a hold rating and three gave the company a buy rating. The 1-year average price target among brokers who have issued ratings on the stock in the past year is $64.57.
A number of analysts have recently released reports on the stock. Wedbush reworded an “outperform” rating and issued a $45.00 price target on Customers Bancorp stock in a Wednesday, September 28 research note. B. Riley lowered his target price on Customers Bancorp stock from $90.00 to $85.00 in a Monday July 11 research note. Stephens lowered his target price on Customers Bancorp stock from $54.00 to $52.00 and set an “equal weight” rating for the company in a Tuesday, Aug. 2 research note. DA Davidson reiterated a “neutral” rating on Customers Bancorp stock in a Wednesday July 27 research note. Finally, Jefferies Financial Group lowered its target price on Customers Bancorp stock from $63.00 to $48.00 in a Monday, July 11 research note.
Bancorp customers trade down 2.9%
CUBI opened at $31.08 on Friday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt ratio of 0.67. The company’s 50-day moving average is $34.57 and its 200-day moving average is $38.50. The company has a market capitalization of $1.01 billion, a P/E ratio of 3.11 and a beta of 1.60. Bancorp Customers has a 52-week minimum of $29.21 and a 52-week maximum of $76.13.
Bancorp Customers (NYSE: CUBI – Get a rating) last released its quarterly results on Wednesday, July 27. The bank reported earnings per share (EPS) of $1.77 for the quarter, missing analyst consensus estimates of $1.80 per ($0.03). The company posted revenue of $177.60 million in the quarter, versus a consensus estimate of $178.09 million. Clients Bancorp had a return on equity of 29.54% and a net margin of 38.56%. During the same quarter last year, the company posted EPS of $1.76. Analysts expect Customers Bancorp to post EPS of 7.27 for the current fiscal year.
Hedge funds weigh on Bancorp customers
Several hedge funds and other institutional investors have recently changed their holdings in the company. Exchange Traded Concepts LLC increased its holdings of Customers Bancorp stock by 51.8% during the third quarter. Exchange Traded Concepts LLC now owns 19,503 shares of the bank valued at $575,000 after acquiring an additional 6,656 shares during the period. Federated Hermes Inc. increased its holdings of Customers Bancorp stock by 30.4% in the second quarter. Federated Hermes Inc. now owns 474,364 shares of the bank valued at $16,081,000 after acquiring an additional 110,625 shares during the period. Hussman Strategic Advisors Inc. acquired a new position in Customers Bancorp stock during the second quarter worth $2,627,000. Legal & General Group Plc increased its holdings of Customers Bancorp shares by 0.7% in the second quarter. Legal & General Group Plc now owns 73,595 shares in the bank valued at $2,495,000 after acquiring an additional 486 shares during the period. Finally, RMB Capital Management LLC acquired a new position in shares of Customers Bancorp during the second quarter at a value of $1,695,000. Institutional investors and hedge funds hold 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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