Bancorp, Inc. Clients (NYSE:CUBget rating) – Wedbush analysts lowered their first quarter 2023 earnings estimates for Customers Bancorp in a report published on Friday, October 28. Wedbush analyst D. Chiaverini now sees the bank posting earnings of $1.63 per share for the quarter, down from his previous forecast of $1.66. Wedbush currently has an “Outperformer” rating and a $45.00 price target on the stock. The consensus estimate for Customers Bancorp’s current full-year earnings is $7.69 per share. Wedbush also issued estimates for Customers Bancorp’s second quarter 2023 earnings at $1.66 EPS, fourth quarter 2023 earnings at $1.68 EPS, fiscal 2023 earnings at $6.65 EPS, first quarter 2024 earnings at $1.61 EPS, 2024 Second Quarter Earnings at $1.68 EPS and 2024 Third Quarter Earnings at $1.73 EPS.

Several other equity research analysts have recently commented on the stock as well. Stephens cut Customers Bancorp’s share price target from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report Tuesday, Aug. 2. StockNews.com began coverage of Customers Bancorp’s stock in a research report on Wednesday, October 12. They set a “hold” rating on the stock. DA Davidson upgraded shares of Customers Bancorp from a “neutral” rating to a “buy” rating and increased his price target on the company from $42.00 to $44.00 in a research report on Friday. B. Riley lowered the target price on Customers Bancorp stock from $90.00 to $85.00 in a research report on Monday, July 11. Finally, Jefferies Financial Group lowered its target price on Customers Bancorp shares from $63.00 to $48.00 in a research report on Monday, July 11. Three research analysts rated the shares a hold rating and five assigned a buy rating to the company’s shares. According to MarketBeat, the company currently has an average “Moderate Buy” rating and an average price target of $62.00.

Bancorp Clients Price Performance

Actions of CUB opened at $33.81 on Monday. The company’s 50-day simple moving average is $32.75 and its 200-day simple moving average is $36.56. Customers Bancorp has a fifty-two week minimum of $29.21 and a fifty-two week maximum of $76.13. The firm has a debt-to-equity ratio of 0.55, a quick ratio of 0.88, and a current ratio of 0.86. The stock has a market capitalization of $1.10 billion, a PE ratio of 3.94, and a beta of 1.60.

Hedge funds weigh on Bancorp clients

Several institutional investors have recently bought and sold CUBI shares. Exchange Traded Concepts LLC increased its stake in Customers Bancorp stock by 2.2% in the second quarter. Exchange Traded Concepts LLC now owns 12,847 shares of the bank worth $436,000 after buying an additional 271 shares last quarter. Mutual of America Capital Management LLC increased its stake in Customers Bancorp stock by 7.1% in the first quarter. Mutual of America Capital Management LLC now owns 4,364 shares of the bank worth $228,000 after buying an additional 290 shares last quarter. Louisiana State Employees Retirement System increased its stake in Customers Bancorp stock by 2.1% in the first quarter. The Louisiana State Employees Retirement System now owns 14,700 shares of the bank worth $696,000 after buying an additional 300 shares last quarter. Price T Rowe Associates Inc. MD increased its stake in Customers Bancorp stock by 3.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 10,783 shares of the bank worth $366,000 after buying an additional 328 shares last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Customers Bancorp stock by 1.5% in the first quarter. Great West Life Assurance Co. Can now owns 26,354 shares of the bank worth $1,410,000 after buying an additional 398 shares last quarter. 86.12% of the shares are owned by hedge funds and other institutional investors.

Bancorp Clients Company Profile

(get rating)

Customers Bancorp, Inc operates as the banking holding company for Customers Bank which provides financial products and services to individual consumers and small and medium-sized businesses. The company offers deposit products, including checking, savings, MMDA and other deposit accounts. It offers credit products, including commercial warehouse mortgage loans, commercial and multi-family real estate loans, commercial banking, small business loans, equipment financing, residential mortgage loans, and installment loans.

Other readings

Earnings history and estimates for Bancorp clients (NYSE:CUBI)

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