Stock of the Day: Does Customers Bancorp Inc Have More Gas After Making 52-Week High?

Stock of the Day: Does Customers Bancorp Inc Have More Gas After Making 52 Week High?

The stock of Customers Bancorp Inc (NYSE:CUBI) hit a new 52-week high and has $31.75 target or 3.00% above today’s $30.83 share price. The 9 months bullish chart indicates low risk for the $901.32 million company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $31.75 price target is reached, the company will be worth $27.04M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 124,223 shares traded hands. Customers Bancorp Inc (NYSE:CUBI) has risen 19.35% since April 26, 2016 and is uptrending. It has outperformed by 14.09% the S&P500.

Analysts await Customers Bancorp Inc (NYSE:CUBI) to report earnings on January, 18. They expect $0.60 earnings per share, up 3.45% or $0.02 from last year’s $0.58 per share. CUBI’s profit will be $17.54M for 12.85 P/E if the $0.60 EPS becomes a reality. After $0.64 actual earnings per share reported by Customers Bancorp Inc for the previous quarter, Wall Street now forecasts -6.25% negative EPS growth.

Customers Bancorp Inc (NYSE:CUBI) Ratings Coverage

Out of 3 analysts covering Customers Bancorp (NYSE:CUBI), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Customers Bancorp has been the topic of 3 analyst reports since October 30, 2015 according to StockzIntelligence Inc. Keefe Bruyette & Woods maintained it with “Market Perform” rating and $29 target price in Tuesday, September 20 report. FBR Capital maintained Customers Bancorp Inc (NYSE:CUBI) on Friday, October 30 with “Outperform” rating. The firm has “Buy” rating by Maxim Group given on Friday, October 30.

According to Zacks Investment Research, “Customers Bancorp is a bank holding company of Customers Bank, a state-chartered bank in Pennsylvania. It provides banking services to small and medium-sized businesses, professionals, individuals and families. The company offers depository products, commercial lending products, specialty lending products and consumer lending. In addition, the company offers other financial services, including Internet banking, wire transfers, electronic bill payment, lock box, remote deposit capture, courier services, merchant processing, cash vault, controlled disbursements, and positive pay services, as well as cash management services comprising account reconciliation, collections, and sweep accounts. The bank has its branches in Pennsylvania, New York and New Jersey. Customers Bancorp is headquartered in Wyomissing, Pennsylvania.”

Insitutional Activity: The institutional sentiment increased to 1.33 in 2016 Q2. Its up 0.24, from 1.09 in 2016Q1. The ratio is positive, as 13 funds sold all Customers Bancorp Inc shares owned while 52 reduced positions. 27 funds bought stakes while 44 increased positions. They now own 22.19 million shares or 5.57% more from 21.02 million shares in 2016Q1.
Moreover, Victory Mngmt has 0.03% invested in Customers Bancorp Inc (NYSE:CUBI) for 340,303 shares. Legal General Public Limited Company has 4,551 shares for 0% of their US portfolio. Renaissance Limited Liability Corp accumulated 78,300 shares or 0% of the stock. Evercore Wealth Limited Liability Corp holds 0% or 3,300 shares in its portfolio. Cornercap Counsel holds 0.26% or 55,080 shares in its portfolio. The New York-based Citigroup has invested 0% in Customers Bancorp Inc (NYSE:CUBI). Geode Capital Management Limited Com holds 167,603 shares or 0% of its portfolio. Moreover, Schwab Charles Management has 0% invested in Customers Bancorp Inc (NYSE:CUBI) for 87,739 shares. Moreover, Zacks Investment Mngmt has 0.04% invested in Customers Bancorp Inc (NYSE:CUBI) for 58,271 shares. Wells Fargo And Mn has invested 0% of its portfolio in Customers Bancorp Inc (NYSE:CUBI). Dimensional Fund Advsr Ltd Partnership last reported 0.02% of its portfolio in the stock. Blackrock Institutional Na reported 635,484 shares or 0% of all its holdings. Manufacturers Life The accumulated 0% or 15,245 shares. Moreover, Convergence Prtnrs Limited Liability Company has 0.27% invested in Customers Bancorp Inc (NYSE:CUBI) for 77,200 shares. D E Shaw And owns 9,781 shares or 0% of their US portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, and 1 sale for $449,901 net activity. Ehst Richard A also sold $254,790 worth of Customers Bancorp Inc (NYSE:CUBI) shares. Hedde Glenn sold 16,663 shares worth $449,901.

Another recent and important Customers Bancorp Inc (NYSE:CUBI) news was published by Readingeagle.com which published an article titled: “Customers Bancorp reports record earnings in third quarter” on October 27, 2016.

CUBI Company Profile

Customers Bancorp, Inc. (Customers Bancorp), incorporated on April 7, 2010, is a bank holding firm engaged in banking activities through its subsidiary, Customers Bank (the Bank). The Firm operates in the community banking segment. The Bank provides financial services and products to small and middle market businesses, not-for-profits, and clients through its branches and offices in Southeastern Pennsylvania (Bucks, Berks, Chester, Delaware and Philadelphia Counties), Rye Brook, Melville and New York, New York (Westchester, Suffolk and New York Counties), Hamilton, New Jersey (Mercer County), Providence, Rhode Island (Providence County), Portsmouth, New Hampshire (Rockingham County) and Boston, Massachusetts (Suffolk County). The Bank also provides liquidity to the mortgage market nationwide through the operation of its loans to mortgage banking companies. The Bank offers a range of traditional loan and deposit banking products, and financial services. Customers Bank offers a range of lending products, including small business loans, mortgage warehouse loans, multi-family and commercial real estate loans, residential mortgage loans and other consumer loans. Customers Bank also offers traditional deposit products, including commercial and consumer checking accounts, non-interest-bearing demand accounts, money market deposit accounts, savings accounts and time deposit accounts, and cash management services.

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