B. Riley Analysts Give Customers Bancorp (CUBI) a $30.00 Price Target

B. Riley set a $30.00 price objective on Customers Bancorp (NYSE:CUBI) in a report released on Tuesday morning, TipRanks reports. The firm currently has a buy rating on the bank’s stock. B. Riley also issued estimates for Customers Bancorp’s Q3 2019 earnings at $0.71 EPS and Q4 2019 earnings at $0.63 EPS.

Several other equities research analysts have also commented on the stock. TheStreet upgraded shares of Customers Bancorp from a c+ rating to a b- rating in a research report on Monday, May 6th. ValuEngine upgraded shares of Customers Bancorp from a strong sell rating to a sell rating in a report on Tuesday, April 16th. Finally, Boenning Scattergood restated a buy rating on shares of Customers Bancorp in a report on Friday, January 25th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. Customers Bancorp has an average rating of Buy and a consensus target price of $29.95.

Customers Bancorp stock opened at $21.24 on Tuesday. Customers Bancorp has a 52 week low of $16.72 and a 52 week high of $32.34. The company has a debt-to-equity ratio of 1.49, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $650.64 million, a P/E ratio of 8.74, a price-to-earnings-growth ratio of 0.93 and a beta of 0.94.

Customers Bancorp (NYSE:CUBI) last released its quarterly earnings data on Wednesday, April 24th. The bank reported $0.38 EPS for the quarter, topping the consensus estimate of $0.35 by $0.03. Customers Bancorp had a net margin of 13.13% and a return on equity of 10.90%. The business had revenue of $79.02 million for the quarter, compared to analyst estimates of $82.68 million. During the same period in the previous year, the firm earned $0.64 EPS. Analysts forecast that Customers Bancorp will post 2.25 EPS for the current fiscal year.

In other Customers Bancorp news, insider Glenn Hedde sold 1,276 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $21.65, for a total value of $27,625.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Steven Issa sold 6,926 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $20.48, for a total transaction of $141,844.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,004 shares of company stock worth $337,759. 9.54% of the stock is owned by insiders.

Large investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of Customers Bancorp by 2.4% during the 4th quarter. BlackRock Inc. now owns 4,480,650 shares of the bank’s stock valued at $81,547,000 after acquiring an additional 105,983 shares during the last quarter. Vanguard Group Inc increased its stake in shares of Customers Bancorp by 1.3% during the 3rd quarter. Vanguard Group Inc now owns 1,750,099 shares of the bank’s stock valued at $41,180,000 after acquiring an additional 22,159 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Customers Bancorp by 1.3% during the 3rd quarter. Vanguard Group Inc. now owns 1,750,099 shares of the bank’s stock valued at $41,180,000 after acquiring an additional 22,159 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Customers Bancorp by 1,274.4% during the 1st quarter. JPMorgan Chase & Co. now owns 911,951 shares of the bank’s stock valued at $16,697,000 after acquiring an additional 845,596 shares during the last quarter. Finally, Context BH Capital Management LP increased its stake in shares of Customers Bancorp by 7.3% during the 4th quarter. Context BH Capital Management LP now owns 692,436 shares of the bank’s stock valued at $12,602,000 after acquiring an additional 47,148 shares during the last quarter. Institutional investors own 79.58% 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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